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ssume a demand equation: Q, = 9 - 0.1p - Pc + 0.01ps + 0.0001Y and a supply equation: Q = 0.1p - 0.02p; + 0.01N + 0.01T - 0.1w where p = price of the good Pc = price of a complement = $3 Q = quantity in thousands of units P = price of an input = $450 P= price of a substitute = $200 N= number of firms = 700 T= index of technology = 300 W = wage rate $10 Y = consumer income = $20,000 If the price is $55, there will be an V of thousand units.

ssume a demand equation: Q, = 9 - 0.1p - Pc + 0.01ps + 0.0001Y and a supply equation: Q = 0.1p - 0.02p; + 0.01N + 0.01T - 0.1w where p = price of the good Pc = price of a complement = $3 Q = quantity in thousands of units P = price of an input = $450 P= price of a substitute = $200 N= number of firms = 700 T= index of technology = 300 W = wage rate $10 Y = consumer income = $20,000 If the price is $55, there will be an V of thousand units.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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ssume a demand equation: Q, = 9 - 0.1p - Pc + 0.01ps + 0.0001Y and a supply equation: Q = 0.1p - 0.02p; + 0.01N + 0.01T - 0.1w where p = price of the good P. = price of a complement = $3 Q = quantity in thousands of units P = price of an input = $450 P= price of a substitute = $200 N= number of firms = 700 Y = consumer income = $20,000 T = index of technology = 300 w = wage rate = $10 If the price is $55, there will be an V of thousand units. O tv 30 MacBook Air DII 80 F10 F11 FB F9 esc FS F6 F7 F2 F3 F4 F1 $ % & 4 6. 8 9 1 P Q W R Y ンビ つ く O
Transcribed Image Text:ssume a demand equation: Q, = 9 - 0.1p - Pc + 0.01ps + 0.0001Y and a supply equation: Q = 0.1p - 0.02p; + 0.01N + 0.01T - 0.1w where p = price of the good P. = price of a complement = $3 Q = quantity in thousands of units P = price of an input = $450 P= price of a substitute = $200 N= number of firms = 700 Y = consumer income = $20,000 T = index of technology = 300 w = wage rate = $10 If the price is $55, there will be an V of thousand units. O tv 30 MacBook Air DII 80 F10 F11 FB F9 esc FS F6 F7 F2 F3 F4 F1 $ % & 4 6. 8 9 1 P Q W R Y ンビ つ く O
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