The supply function for a product is 2p − q − 30 = 0, while the demand function for the same product is (p + 20)(q + 10) = 5600. Find the market equilibrium point. (q, p) = (,)
The supply function for a product is 2p − q − 30 = 0, while the demand function for the same product is (p + 20)(q + 10) = 5600. Find the market equilibrium point. (q, p) = (,)
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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The supply function for a product is
2p − q − 30 = 0,
while the demand function for the same product is
(p + 20)(q + 10) = 5600.
Find the market equilibrium point.(q, p) = (,)
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