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Given the following supply and demand functions find the Market Equilibrium point: Qs = 10 +15P Qd = 150 -5P. Now assume there is a positive shock in demand: Qd2 = 200 - 5P find the new Equilibrium Price and Quantity.

Market Equilibrium is one of the fundamental concepts in Economics. Graphically our equilibrium will be the point of intersection between Demand and Supply function. On the order hand, In order to solve i...

AS
5782 Views

3x+3=19-5x

3x+3=19-5x(+5x) 8x+3=19 (+5x)(-3) 8x=16 (-3)(/8) x=2 (/8)
Algebra is all about balance, so anything you do to one side of the equation, you have to do to the other side as well. So first thing to do ...

CO
Answered by Ciara O. Music tutor
4308 Views

Explain how waterfalls are formed.

Waterfalls are mainly found in the upper course of a river. They are formed where there are alternating bands of hard and soft rock along the river bed. This is because soft rock erodes around ten times q...

EP
Answered by Eve P. Geography tutor
11978 Views

How are nutrients absorbed into the circulatory system in the small intestine?

Firstly I would ensure the student understands the basic concepts of diffusion and what nutrients are. I would describe how food substances move through the digestive system and break down into amino acid...

PC
Answered by Pippa C. Biology tutor
3242 Views

Explain why some locations remain 'switched off' from globalisation

Some areas remain 'switched off' owing to a fear of cultural erosion or a desire to retain heritage, such as occurs in North Korea; North Korea has banned social media like Facebook and Twitter in an atte...

BB
Answered by Ben B. Geography tutor
28294 Views

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