Question ThreeThe demand and supply functions in a competitive market areQa=280-4P and Qs = -35+8Pand price is currently 19. When not at equilibrium the rate of adjustment of price isdP0.08(Qd-Qs)dtObtain the time path, P(t)? Does this market have a dynamically stableintertemporal equilibrium price?Use the solution you obtained in (a) to explain how close price will be to itsequilibrium value after seven time periods.a)b)=

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Answered: The demand and supply functions in a…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A snow shovel company forecasts demand that shows strong seasonality by quarter. The linear trend can be estimated by the equation y(t) = 1000 + 1000t. The forecasts start with t = 0, which corresponds with Q1 of 2021 (Jan - Mar). t = 1 corresponds to Q2 of 2021 (Apr - Jun) and so on. The seasonal relatives for Q1 = 1.5, Q2 = 0.5, Q3 = 1, Q4 = 2. What is the seasonalized forecast for Q2 of 2022.
6. The monthly supply and demand functions for extra fancy green tea are: Supply function: q= 5p- 74 Demand function: q -4p+70 %3D where p price per pound (in dollars), and hundreds of pounds sold at price p. (a Find the equilibrium price. (b How many pounds of green tea are sold at this price?
Consider the demand (D) and supply (S) functions D = 14 - P and S = P² + 3P +2. (P is the unit price by dollars.) 1. Find the domain of the function D = D(P) in this context. 2. Find the equilibrium price Pr. What happens if P > P* (explain in this context)? ( 3. Sketch both the demand and supply curves in one coordinate system. Identify the equilibrium point...
D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. D(x) = e X+2 S(x) = e x-6 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point. a) What are the coordinates of the equilibrium point? (Type an ordered pair. Round each coordinate to the nearest hundredth as needed. Do not include the $ symbol in your answer)
D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. 1 5 D(x)=x+11, S(x)=x+4 3 (a) Find the equilibrium point (Type an ordered pair, using integers or decimals.) (b) Find the consumer surplus at the equilibrium point. $(Type an integer or a decimal.) (c) Find the producer surplus at the equilibrium point. $ (Type an integer or a decimal.)
Assume (FT2 = FT1 (1 + TIT2) + T1CT2 is the equilibrium situation. Also assume that T2- T1 is one year, that T1CT2 = $1 and that TirT2 = 10%. %3D Assume the initial prices are FOT1 = 100 & FOT2 = 133. A trader goes long the FT1 contract and short the FT2 contract believing these are not equilibrium prices and that he will profit when they adjust to equilibrium. Say the next day, t+ 1, the t+1FT1 price moves to 115 and t+1FT2 adjusts to an equilibrium price. If the trader round trips his positions on day t+1, what is his profit or loss on the FT2 position? profit of 11 loss of 11 cannot be determined from the information given profit of 5.5

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