Question #349245

The mathematical functions of ** supply** and

The **Supply** function is: **Qs = 2100 + 344P;**

The **Demand** function is: **Qd = 3660 – 324P**;

The **Equilibrium Price** is **P**.

a) Determine the **Equilibrium Price**, **P**.

b) Mathematically determine the equilibrium **Supply** and **Demand volume** for broilers in this market. Show all calculations.

Expert's answer

"Q_s=2100+344P,"

"Q_d=3660-324P,"

"Q_s=Q_d,"

"2100+344P=3660-324P,"

"668P=1560,"

"P=2.3,"

"Q_s=Q_d=2903.4."

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Vessy09.06.22, 01:40Thank you very much indeed for helping me out with answering this question. I'm very grateful that you've help me answer this question for my assignment. Thank you very much.

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