What are the values of P, P2,Q,Q2 given the two commodity demand and supply model: Qai = 18 – 3P + P2 Q1 = -2 + 4P Qaz = 12 + P- 2P2 Q12 = -2 + 3P Select one: O a. P $3.47, P2 $3.09, Q1 11.4, Q2 7.32 O b. P $3.35, P2 $3.47, Q1 11.4, Q28.41 Oc P $2.14, P2 × $3.47, Q1 = 11.4, Q2 16.32 O d. P $3.59, P2 $1.86, Q1 16.32, Q2 1.18
What are the values of P, P2,Q,Q2 given the two commodity demand and supply model: Qai = 18 – 3P + P2 Q1 = -2 + 4P Qaz = 12 + P- 2P2 Q12 = -2 + 3P Select one: O a. P $3.47, P2 $3.09, Q1 11.4, Q2 7.32 O b. P $3.35, P2 $3.47, Q1 11.4, Q28.41 Oc P $2.14, P2 × $3.47, Q1 = 11.4, Q2 16.32 O d. P $3.59, P2 $1.86, Q1 16.32, Q2 1.18
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![What are the values of P, P2, Q1,22 given the two commodity demand and supply model:
Q4i = 18 – 3P, + P2
Q1 = -2+ 4P
Qaz = 12 + P - 2P2
Q12 = -2+ 3P,
Select one:
O a. P $3.47, P2 $3.09, Q1 11.4, Q2 7.32
O b. P $3.35, P2 $3.47, Q1 z 11.4, Q2 8.41
O. P $2.14, P2 z $3.47, Q1× 11.4, Q2 × 16.32
O d. P $3.59, P2 $1.86, Q1 = 16.32, Q2 1.18](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F36abb20b-0a2e-4f12-9cbc-603849c615ac%2Fb72c6dca-80ea-4566-bd5e-9577b101e252%2Fnfoswol_processed.jpeg&w=3840&q=75)
Transcribed Image Text:What are the values of P, P2, Q1,22 given the two commodity demand and supply model:
Q4i = 18 – 3P, + P2
Q1 = -2+ 4P
Qaz = 12 + P - 2P2
Q12 = -2+ 3P,
Select one:
O a. P $3.47, P2 $3.09, Q1 11.4, Q2 7.32
O b. P $3.35, P2 $3.47, Q1 z 11.4, Q2 8.41
O. P $2.14, P2 z $3.47, Q1× 11.4, Q2 × 16.32
O d. P $3.59, P2 $1.86, Q1 = 16.32, Q2 1.18
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