Q.1. Suppose the demand and Supply function for tomatoes is given by 1.5p = 2.1 q – 0.4 = S(q) and 1.5 p = - 39 + 4.6 = D(q) Where p is the price in Omani Rial and q is the quantity in Kilogram. Find...


Q.1.<br>Suppose the demand and Supply function for tomatoes is given by<br>1.5p = 2.1 q – 0.4 = S(q) and<br>1.5 p = - 39 + 4.6 = D(q)<br>Where p is the price in Omani Rial and q is the quantity in Kilogram. Find<br>a) Equilibrium Quantity<br>b) Equilibrium Price<br>c) Find the price from demand function if quantity is 1.5 kilogram<br>d) Find the quantity from supply function if price is 1.5 Omani Rial<br>

Extracted text: Q.1. Suppose the demand and Supply function for tomatoes is given by 1.5p = 2.1 q – 0.4 = S(q) and 1.5 p = - 39 + 4.6 = D(q) Where p is the price in Omani Rial and q is the quantity in Kilogram. Find a) Equilibrium Quantity b) Equilibrium Price c) Find the price from demand function if quantity is 1.5 kilogram d) Find the quantity from supply function if price is 1.5 Omani Rial

Jun 04, 2022
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