Question

The demand for watches is given by p = 7000 − 2q dollars, and the supply of watches is given by p = 0.01q + 2q + 1000 dollars, where q is the number of watches demanded and supplied when the price per watch is p dollars.Based on the information provided,calculate the equilibrium quantity and the equilibrium price for watches. 

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Math
Advanced Math

Other

Related Advanced Math Q&A

Find answers to questions asked by students like you.

Q: [4 5 9 -21 1. Consider A = 6 5 3 4 8 1. 12 -3 (c) What is Col A? (d) Find a basis for Col A. (e) Wha...

A: According to the given information, Consider a matrix A as:

Q: In this problem you will use undetermined coefficients to solve the nonhomogeneous equation y" – 5y'...

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If y...

Q: a) Transport vehicles leaving the port with containers must have the containerstagged based on weigh...

A: Click to see the answer

Q: Using algebra,find the solution to the system of inequalities below y ≤ 5 − 3x      y + 19 ≥  x − 8x

A: Click to see the answer

Q: In an Arithmetic Progression the 8th term plus the 4th term equals the 13thterm. If the 18th term is...

A:  

Q: Find the sum of each of the following series.

A: Click to see the answer

Q: 7. a) Find the equation of the line passing through the point (4, -2) and (2, 8)b) Find the equation...

A: Click to see the answer

Q: What is the largest n such that 16 and 25 are in the same remainder class modulo n? Write out the re...

A: Click to see the answer

Q: Consider this power series. a) find the radius of convergence. b) find the interval of convergence. ...

A: Click to see the answer

Q: For each of these sequences find a recurrence relation satisfied by this sequence. (The answers are ...

A: To find a recurrence relation satisfied by  

Q: Give the value of the local extrema or identify as a saddle point.  f(x,y)= x2 +xy +y2 -6x -3

A: Here, f(x,y)=x2+xy+y2-6x-3

Q: How many solutions are there to the equation:x1 + x2 + x3 + x4 + x5 = 25such that x1 ≥ 1, x2≥ 5, x3 ...

A: Click to see the answer

Q: Which interval of 0-values corresponds to the the shaded region in the figure if f(0) = 3.0 – 0? On ...

A: Click to see the answer

Q: Question 1 (a) The cost of producing 5-gallon water bottles is glven by C(q) = 0.005q² + 2q + 1000. ...

A: Click to see the answer

Q: Find a power series representation for the function. (Give your power series representation centered...

A: According to the given information, it is required to find the power series representation of the fu...

Q: Calculus 2 Question:

A: Click to see the answer

Q: 11. Explain how we know that (1 – x)? is the generating function for 1, 2, 3, 4, ....

A: The general expansion of the binomial (1-x)-1 will be, (1-x)-1=1+x+x2+x3+….

Q: Using matrix method ONLY solve the following equationsx = -2y2x + 3y = 1

A:  

Q: Last update: 07/29/20 use Altemating Det comvergerce or Divergerc Serves teet (-1) いう

A: Click to see the answer

Q: Find the least squares solution of the system below

A: Click to see the answer

Q: G> As Dng Evaluate the Hollow 2. Sinh 5zdz zcos2zdz SHOT ON REDMI Y3 AI DUAL CAMERA

A: Click to see the answer

Q: Given the below table of values, determine the equation X: 0, 1, 5, 10, 15 Y: 10, 12, 24.88, 61.92, ...

A: Click to see the answer

Q: A state vector X for a three-state Markov chain is such that the system is as likely to be in state ...

A: Click to see the answer

Q: linear algebra question:

A: The orthogonal projection is given by,

Q: (c) What is peculiar about the slope of a function before and after a point of inflection as compare...

A: Click to see the answer

Q: find the work done by the gradient of f(x,y,z) =ze^x+2y^2z along the path from (1,2,4) to (-1,0,5)

A: Click to see the answer

Q: Consider the initial value problem: =)+ (6). =w)= a' = a. Form the complementary solution to the hom...

A: Click to see the answer

Q: a) Transport vehicles leaving the port with containers must have the containers tagged based on weig...

A: Click to see the answer

Q: -6 Consider the system of equations given by: æ' = ӕ. -2 -6 a. Find a fundamental matrix for the sys...

A: Click to see the answer

Q: 2. Try again You have answered 5 out of 9 parts correctly. Consider the following initial value prob...

A: Click to see the answer

Q: The region R is bounded by the graphs of f(x)=Vx and g(x) =x 2 between x = 0 and x = 1. (a) What is ...

A: Click to see the answer

Q: Please I want answer of sub-part b. (iii) of question 1. Many thanks

A: Click to see the answer

Q: Зи — v Let T : R? → R² be the linear map defined by T () = C) 3. with {() (} -{() (} and B' = basis ...

A:  

Q: (2) Let V be a finite-dimensional vector space and T E L(V). Suppose that T is diago- nalizable. Let...

A: Click to see the answer

Q: 4. Ris the shaded region in the first quadrant shown bounded by the curve fy = e*]the line through (...

A: Click to see the answer

Q: 2. The Hellenistic mathematician Nicomachus studied the following concept related to perfect numbers...

A: Click to see the answer

Q: Jeffery Wei received a 6-year non-subsidized student loan of $33,000 at an annual interest rate of 5...

A: Consider the provide question, Given, P = $33,000 Annual interest rate = 5.8% We first find the Amou...

Q: For matrix A = 4 1    if g(X) = X2 + 4x + 2, what is the answer to g(A)?                        2 3

A: Click to see the answer

Q: 9. Determine which of the following congruences have solutions, and find any solutions (between 0 an...

A: Click to see the answer

Q: Solve the congruence: 6x ≡ 4 (mod10)

A: The congruence could be written as,

Q: Question 3B A clothing manufacturer makes trousers, skirts and blouses. Each trouser requires 20 min...

A: