Qs=20r + 100p Qd=4000 - 100p + 10 i N Quiz: written Assignment #1 DUX 1...

Question

Question

Qs=20r + 100p

Qd=4000 - 100p + 10 i

Answer 1

Answer #1

Firstly, for equilibrium price and quantity:

Qs= Qd i.e.20r + 100p = 4000 - 100p + 10i
which gives, 200p = 4000 + 10i -20r or p= 20 + 0.05i - 0.1r

Thus dp/dr = -(20/200) = -0.1

and d/dr (Q*) = d/dr (20r + 100 (20 + 0.05i -0.1r)

= d/dr ( 20r + 2000 + 5i -10r), which gives d(Q*)/ dr = 10

Answer 2

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