What is the equilibrium price and quantity in the market

Reference no: EM13201614

The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell at the following prices: $30, $29, $20, $16, and $12. Five buyers are willing to buy one widget at the following prices: $10, $12, $20,$24, and $29. What is the equilibrium price and quantity in this market?

Reference no: EM13201614

Questions Cloud

Define two different rational solutions : Use the discriminant to determine whether the following equations have solutions that are: two different rational solutions; two different irrational solutions

How many of the bulbs should she plant next fall : show all work. Last fall, a gardener planted 60 iris bulbs. She found that only 45 of the bulbs bloomed in the spring.

What are thr room dimensions : the length of a rectangular room is 9 feet longer than twice the width. if the room's perimeter is 186 feet, what are thr room's dimensions?

Define if the pentagon has sides of length find the equation : Suppose a regular pentagon is centered on the y axis and sitting with its base on the x axis. If the pentagon has sides of length 9.7, find the equation

What is the equilibrium price and quantity in the market : The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell at the following prices: $30, $29, $20, $16, and $12. Five buyers are willing to buy one widget at the following prices: $10, $12, $20,$24, and ..

Find the coordinates of the inflection point of the curve : Use Newton's method to find the coordinates of the inflection point of the curve y = ecos(x),0 ≤ x ≤ π , correct to six decimal places.

Training kitchen installation : During project planning, how could you consult team members for their views on project-related issues and list the steps you would follow to brief team members about their responsibilities within the project requirements.

Determine the amount of each of the four interest payments : Emerson Processing borrowed $900,000 for installing energy-efficient lighting and safety equipment in its La Grange manufacturing facility. The terms of the loan were such that the company could pay interest only at the end of each year.

Estimate the amount of material in a closed cylindrical : Use differentials to estimate the amount of material in a closed cylindrical can that is 70 cm high and 28 cm in diameter if the metal in the top and bottom is 0.1 cm thick, and the metal in the sides is 0.05 cm thick.

User Account

All Pages