Mathematics, 24.12.2021 07:00, mazielynn84
Assume that the demand curve D(p) given below is the market demand for widgets:
Q=D(p)=2575−20p, p > 0
Let the market supply of widgets be given by:
Q=S(p)=−5+10p, p > 0
where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price.
What is the equilibrium price?
Please round your answer to the nearest hundredth.
What is the equilibrium quantity?
Please round your answer to the nearest integer.
What is the price elasticity of demand (include negative sign if negative)?
Please round your answer to the nearest hundredth.
What is the price elasticity of supply?
Please round your answer to the nearest hundredth.
Answers: 2
Other questions on the subject: Mathematics
Mathematics, 21.06.2019 15:00, nyraimccall408
Mustafa contributes 11% of his $67,200 annual salary to his 401k plan. what is his pretax income
Answers: 1
Mathematics, 21.06.2019 17:30, BreBreDoeCCx
If the class was going to get a class pet and 5 picked fish and 7 pick bird and 8 picked rabbits have many students were in the
Answers: 1
Do you know the correct answer?
Assume that the demand curve D(p) given below is the market demand for widgets:
Q=D(p)=2575−20p, p...
Questions in other subjects:
Mathematics, 08.06.2021 09:50
Biology, 08.06.2021 09:50
Geography, 08.06.2021 09:50
Mathematics, 08.06.2021 09:50
Chemistry, 08.06.2021 09:50
Mathematics, 08.06.2021 09:50
