Consider the following model of a market for a good, in which Qs is quantity produced, Qd is quantity purchased and P is the price of the good. Qs=j+kP Qd=l-mP Assume that j=10, k=1, l=50, m=3. When Qs=Qd how many units of the good will be produced? a. 15 b. 12 c. 20 d. 10

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter8: Introduction To Functions
Section8.10: Inverse Variation
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Consider the following model of a market for a good, in which Qis quantity produced, Qd is quantity purchased and P is the price of the good.

Qs=j+kP

Qd=l-mP

Assume that j=10, k=1, l=50, m=3. When Qs=Qd how many units of the good will be produced?

a. 15

b. 12

c. 20

d. 10

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