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A publisher has established the supply equation of one of their textbooks to be p =q² and is show in blue on the graph. They also found the demand equation to be p = -² +20 and is shown in red. Where p is in tens of dollars and q is the quantity in hundreds of textbooks. 20- Find the amount demanded when the price is $1800. Find the equilibrium price. $ 12- Find the amount supplied when the price is $20. Find the equilibrium quantity. Quantity

A publisher has established the supply equation of one of their textbooks to be p =q² and is show in blue on the graph. They also found the demand equation to be p = -² +20 and is shown in red. Where p is in tens of dollars and q is the quantity in hundreds of textbooks. 20- Find the amount demanded when the price is $1800. Find the equilibrium price. $ 12- Find the amount supplied when the price is $20. Find the equilibrium quantity. Quantity

Macroeconomics
Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 1WNG
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A publisher has established the supply equation of one of their textbooks to be p =q² and is show in blue on the graph. They also found the demand equation to be p = -9² +20 and is shown in red. Where p is in tens of dollars and q is the quantity in hundreds of textbooks. 20 Find the equilibrium price. $ p Find the equilibrium quantity. 16- Find the amount demanded when the price is $1800. 12- Find the amount supplied when the price is $20. Quantity 12
Transcribed Image Text:A publisher has established the supply equation of one of their textbooks to be p =q² and is show in blue on the graph. They also found the demand equation to be p = -9² +20 and is shown in red. Where p is in tens of dollars and q is the quantity in hundreds of textbooks. 20 Find the equilibrium price. $ p Find the equilibrium quantity. 16- Find the amount demanded when the price is $1800. 12- Find the amount supplied when the price is $20. Quantity 12
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