Question:
Consider the Demand and Supply functions: P^D = f (Q) = a + bQ and P^s = g (Q) = c + dQ
A) What is quantity demanded when (P, a, b) = (17, 426, -.8)? Enter Answer to nearest .01
B) Using the parameter values from A), What is dP^d/dQ at P =17? (Nearest .01)
C) What is P_e when (a,b,c,d) = (426,-.8, 87, 1.2)? (nearest .1)
Simplify and factor to get L = &int