Please help me:
1. given (a) a constant parameter at 0.00085 for both demand and supply equations, the slope for the demand function is 0.00035 and 0.00025 for the supply function. Compute the market price and equilibrium quantity.
2. determine the slope of the demand function if the price is 0.00067 and quantity is 3.75% units.
3. Assuming two linear functions such as -3 2/4 -6.33% and 0.06275 + -2 3/5 p, solve for the equilibrium price and quantity.
4. Based on equation number 3, calculate the average market price and quantity.
Need answers please..thank you!
1. given (a) a constant parameter at 0.00085 for both demand and supply equations, the slope for the demand function is 0.00035 and 0.00025 for the supply function. Compute the market price and equilibrium quantity.
2. determine the slope of the demand function if the price is 0.00067 and quantity is 3.75% units.
3. Assuming two linear functions such as -3 2/4 -6.33% and 0.06275 + -2 3/5 p, solve for the equilibrium price and quantity.
4. Based on equation number 3, calculate the average market price and quantity.
Need answers please..thank you!