owls is given by P=4+4Q. Assume the market for Ramen noodle bowls is perfectly competitive. /hat is market PRICE? Enter a number only, drop the $ sign. 145.88 margin of error +/- 0.1 Invert the supply function to get Q(P). The set quantity supplied = quantity demanded to solve for market price.

owls is given by P=4+4Q. Assume the market for Ramen noodle bowls is perfectly competitive. /hat is market PRICE? Enter a number only, drop the $ sign. 145.88 margin of error +/- 0.1 Invert the supply function to get Q(P). The set quantity supplied = quantity demanded to solve for market price.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The market demand for Ramen noodle bowls is Q=619-4P. The market supply for Ramen noodle
bowls is given by P=4+4Q. Assume the market for Ramen noodle bowls is perfectly competitive.
What is market PRICE? Enter a number only, drop the $ sign.
Answered
et Answer
145.88 margin of error +/- 0.1
Invert the supply function to get Q(P). The set quantity supplied = quantity demanded to solve
for market price.

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