The supply and demand for the sale of television sets by an electronics company are given by
S(p) = ln p and D(p) = ln 183,000 / p
where S(p) = the number of television sets that the company is willing to sell at $p and D(p) = the quantity that the public is willing to buy at $p. Find the equilibrium point.
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2015-12-08 4:39 am
回答 (1)
2015-12-08 4:43 am
✔ 最佳答案
Equilibrium point means the company would sell as many as customer would buy at price p.So equate supply and demand:
S(p)=D(p)
ln(p)=ln(183000/p)
2ln(p)=ln(183000)
p=sqrt(183000) = 427.785 (approx.)
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