jaydqueen6190 jaydqueen6190

07-05-2024
Mathematics

Answered

The demand and supply functions of a certain product are given by

Pd = 500/Q+1 and Ps = 16+2Q.

where P is the price per unit and Q the number of units produced.
Determine the equilibrium price and quantity (rounded to a whole number) for the product
a. Q = 40; P = 42
b. Q = 320; P= 16
c. Q = 16; P= 320
d. Q = 12; P = 40

Answer :

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