Chapter 1: Problem 4
Make \(Q\) the subject of $$ P=2 Q+8 $$ Hence find the value of \(Q\) when \(P=52\).
Short Answer
Step by step solution
Key Concepts
These are the key concepts you need to understand to accurately answer the question.
/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none}
Learning Materials
Features
Discover
Chapter 1: Problem 4
Make \(Q\) the subject of $$ P=2 Q+8 $$ Hence find the value of \(Q\) when \(P=52\).
These are the key concepts you need to understand to accurately answer the question.
All the tools & learning materials you need for study success - in one app.
Get started for free
The demand and supply functions for two interdependent commodities are given by $$ \begin{aligned} &Q_{\mathrm{D}_{1}}=100-2 P_{1}+P_{2} \\ &Q_{\mathrm{D}_{2}}=5+2 P_{1}-3 P_{2} \\ &Q_{\mathrm{S}_{1}}=-10+P_{1} \\ &Q_{\mathrm{s}_{2}}=-5+6 P_{2} \end{aligned} $$ where \(Q_{D_{i}}, Q_{s_{i}}\) and \(P_{i}\) denote the quantity demanded, quantity supplied and price of good \(i\) respectively. Determine the equilibrium price and quantity for this two-commodity model.
Multiply out the brackets, simplifying your answer as far as possible. (a) \((5-2 z) z\) (b) \(6(x-y)+3(y-2 x)\) (c) \(x-y+z-\left(x^{2}+x-y\right)\)
Simplify the following inequalities: (a) \(2 x>x+1\) (b) \(7 x+3 \leq 9+5 x\) (c) \(x-5>4 x+4\) (d) \(x-1<2 x-3\)
The demand and supply functions of a good are given by $$ \begin{aligned} &P=-4 Q_{\mathrm{D}}+120 \\ &P=1 / 3 Q_{\mathrm{s}}+29 \end{aligned} $$ where \(P, Q_{D}\) and \(Q_{5}\) denote the price, quantity demanded and quantity supplied respectively. (a) Calculate the equilibrium price and quantity. (b) Calculate the new equilibrium price and quantity after the imposition of a fixed tax of \(\$ 13\) per good. Who pays the tax?
Determine the savings function that corresponds to the consumption function $$ C=0.8 Y+25 $$
What do you think about this solution?
We value your feedback to improve our textbook solutions.