a. Estimate the equlibrium price and quantity of the market whose demand and supply functions are pa = -(q + 4)2+ 100 and p, = (q + 2)² respectively. Showing all supporting working: b. If the region A (shaded grey) in the diagram above represents a solution set, derive the system of inequalities which define that region.
a. Estimate the equlibrium price and quantity of the market whose demand and supply functions are pa = -(q + 4)2+ 100 and p, = (q + 2)² respectively. Showing all supporting working: b. If the region A (shaded grey) in the diagram above represents a solution set, derive the system of inequalities which define that region.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
a. Estimate the equlibrium price and quantity of the market whose demand and supply functions
are pd = −(q + 4)2 + 100 and ps = (q + 2)2
respectively.
b. If the region A (shaded grey) in the diagram above represents a solution set, derive
the system of inequalities which define that region.
![a. Estimate the equlibrium price and quantity of the market whose demand and supply functions
are pa = -(q + 4)2+ 100 and p, = (q + 2)² respectively.
Showing all supporting working:
b. If the region A (shaded grey) in the diagram above represents a solution set, derive
the system of inequalities which define that region.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbf47be50-18ee-402d-a185-00c2a71084a4%2F757cd5f1-814e-4264-b7b6-7baa52418991%2Fnr9xfy.jpeg&w=3840&q=75)
Transcribed Image Text:a. Estimate the equlibrium price and quantity of the market whose demand and supply functions
are pa = -(q + 4)2+ 100 and p, = (q + 2)² respectively.
Showing all supporting working:
b. If the region A (shaded grey) in the diagram above represents a solution set, derive
the system of inequalities which define that region.
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