Monday, April 1, 2013

Suppose the individual demand equation for bananas is and the individual supply equation is expressed as a....

Hello!


c. The simplest part is finding the equilibrium point "mathematically" (it is better to say "algebraically"). For this, we have to equate and This is a simple linear equation that becomes and (units are probably $/kg). The supply and demand are both equal to at this point. We obtain the same result looking at a graph.


b. The graphs are simple, too. They are both straight lines. Please look at this link: https://www.desmos.com/calculator/zngt7rj9fr


a. The schedule is simply a table that lists some possible price () values and the corresponding and values. We may choose the step between the values. Let it be 1 $/kg:


       


  1       40      10


  2       30      20


  3       20      30


  4       10      40


You can extend this table with values 0.5, 1.5 and so on.

No comments:

Post a Comment

find square roots of -1+2i

We have to find the square root of i.e. We will find the square roots of the complex number of the form x+yi , where ...