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1) A local market for new wood pallets has daily demand described by P=178-0.2Q and supply described by P=85+0.1Q. Calculate the equilibrium quantity.

2) Suppose a market has a supply described by P=3.0+0.1Q and a demand described by P=6.0-0.2Q. Calculate the equilibrium price.

(Format tips: Answers must be within 0.1 of the true value to be counted as correct, so don't round too soon. Do not include dollar signs, spaces, or plus signs

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91404099

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