subject
Mathematics, 18.10.2019 22:30 NetherisIsTheQueen

In a particular geographical area, the demand function for each person i for a particular good is q^d_i = 100 + 0.2i_i - 9p where q^d_i is quantity demanded for person i, i_i, is person i's income, and p is the commodity's price. (note that p is constant across individuals, since all individuals face the same price. therefore no i subscript is needed.) for the firms in this area the supply function for this good is q^s_j = -50 + 20p where q^s_j is the quantity supplied of the good by firm j. (note that a different subscript is needed. why? ) there are 5 firms and 100 consumers. total income of the consumers is $100,000. equilibrium occurs where sigma^100_i = 1 q^d_i = sigma^5_j = 1 q^s_j (i. e., market demand equals market supply). find the equilibrium price.

ansver
Answers: 1

Another question on Mathematics

question
Mathematics, 21.06.2019 14:30
Given f(x) = 2x^2- 5x+1, determine the function value f(2). do not f(x) = in your answer
Answers: 1
question
Mathematics, 21.06.2019 18:00
Fanny mendelssohn manages all the magazines and paperback books at a local grocery store. she prices many paperbacks to sell at $7.99. the cost to the store is $5.29. what is the markup rate on a paperback book, based on its cost?
Answers: 1
question
Mathematics, 21.06.2019 19:30
What are the exclude value of mn+3m
Answers: 1
question
Mathematics, 21.06.2019 20:20
Pls brainliest will be awarded if answer is correct
Answers: 1
You know the right answer?
In a particular geographical area, the demand function for each person i for a particular good is q^...
Questions
question
Mathematics, 20.05.2021 22:50
question
Mathematics, 20.05.2021 22:50
question
History, 20.05.2021 22:50
question
Mathematics, 20.05.2021 22:50
question
Mathematics, 20.05.2021 22:50
question
Mathematics, 20.05.2021 22:50
Questions on the website: 13722362