a. Estimate the equlibrium price and quantity of the market whose demand and supply functions are pd =-lg+ 4) 2+100 and ps = (g+ 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 pd =-lg+ 4) 2+100 and ps = (g+ 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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q5 a. Estimate the equlibrium price and quantity of the market whose demand and supply functions are pa = -(q + 4)? + 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.