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In this problem, p is in dollars and x is the number of units. Suppose the demand function for a product is p and the supply
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Answer #1

9 Selution For equilibrium Quentity, Demond - Supply ut = 1+0.24 G=x+ 0.20²4 Ho.zu 8 = 1.20+ 0.22² por u?+ 1.2x1 - 8 0.2 0.2u=4 equilibrium Quentity 4= 0 lerples? R99 Son P =18 equilibrium Point = 4, 108 (?,,P1) = 4, 108] when a=o Demand, of op 8=9

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