The equilibrium price and quantity

Reference no: EM1314201

Question: The Gifts Galore Catalog Company estimates the demand equation for its portable video recorder/player to be p = -10x + 640, where x is the demand quantity (in thousands) & p is the price. The supply equation is estimated to be p = 12.5x + 325, where x is the supply quantity (in thousands) & p is the price. Determine the equilibrium quantity and price.

Reference no: EM1314201

Questions Cloud

Computation and capital budgeting decision based on irr : Computation and capital budgeting decision based on IRR and should the project be accepted if it has been assigned a required return of 9.5%

Computation of operating cash flows : Computation of operating cash flows using givien detials for the year 2006 and using 2005 and 2006 Balance Sheet

Prepare an income statement through gross profit : Prepare an income statement through gross profit, assuming merchandise inventory on hand at April 30 is $4,524. and Tot. trial balance $8,254.

Prepare a trial balance on april 30 : Prepare a trial balance on April 30, 2008 and Tot. trial balance $8,254 - Merchandise Accounting

The equilibrium price and quantity : The equilibrium price and quantity.

Beginning balances in the ledger accounts : Using T accounts enter the beginning balances in the ledger accounts and post the April transactions and Tot. trial balance $8,254. Gross profit $463

Record the journal entries-transaction using the net method : Record the journal entries related to this transaction using the net method of recording purchases and Which method do you prefer? Why?

Algebra equation : Algebra equation

Prepare a bank reconciliation going from balance : Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance and Prepare the general journal entry or entries to correct the Cash account

Reviews

Write a Review

Required(*) Message

Algebra Questions & Answers

Solve the equation by graphing

Solve the equation by graphing.

Using venn diagram for solving word problems

Using venn diagram for solving word problems.

Solving problems using venn diagram

Solving problems using venn diagram.

Solving problems into equation

Solving problems into equation.

Finding and making the truth value

Finding and making the truth value.

Make a linear equation

Assume you have a lemonade stand, & when you charge $1 per cup of lemonade you sell 50 cups. But when you raise your price to $2 you only sell 25 cups. Make an equation for the number of cups you sell as a function of the price you charge. Denote "C"..

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages