1 thought on “Formulate the linear and quadratic equations for attaining equilibrium of demand and supply.<br />”
Answer:
Set quantity demanded equal to quantity supplied:
Add 50P to both sides of the equation. You get.
Add 100 to both sides of the equation. You get.
Divide both sides of the equation by 200. You get P equals $2.00 per box. This is the equilibrium price.
Step-by-step explanation:
In its most basic form, a linear supply function looks as follows: y = mx + b. In this case, x and y represent the independent and dependent variables. Meanwhile, m shows the slope of the function, and b represents its y-intersect (i.e., the point where the function intersects the y-axis).
Answer:
Set quantity demanded equal to quantity supplied:
Add 50P to both sides of the equation. You get.
Add 100 to both sides of the equation. You get.
Divide both sides of the equation by 200. You get P equals $2.00 per box. This is the equilibrium price.
Step-by-step explanation:
In its most basic form, a linear supply function looks as follows: y = mx + b. In this case, x and y represent the independent and dependent variables. Meanwhile, m shows the slope of the function, and b represents its y-intersect (i.e., the point where the function intersects the y-axis).