Consider the following model of a market for hats in which Qs is quantity of hats produced, Qd is quantity of hats purchased and P is the price of a hat. Qs=5+12P Qd=50-3P at what price will Qs=Qd? a. £2 b. £5 c. £3 d. £4
Consider the following model of a market for hats in which Qs is quantity of hats produced, Qd is quantity of hats purchased and P is the price of a hat. Qs=5+12P Qd=50-3P at what price will Qs=Qd? a. £2 b. £5 c. £3 d. £4
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
Section: Chapter Questions
Problem 33CLR
Related questions
Question
Consider the following model of a market for hats in which Qs is quantity of hats produced, Qd is quantity of hats purchased and P is the price of a hat.
Qs=5+12P
Qd=50-3P
at what price will Qs=Qd?
a. £2
b. £5
c. £3
d. £4
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