Consider the following model of a market for a good, in which Qs is quantity produced, Qd is quantity purchased and P is the price of the good. Qs=j+kP Qd=l-mP When Qs=Qd, what will the price be? a. (k+m)/(l-j) b. (l-j)/(k+m) c. (k-m)/(l+j) d. (l+j)/(k-m)

Consider the following model of a market for a good, in which Qs is quantity produced, Qd is quantity purchased and P is the price of the good. Qs=j+kP Qd=l-mP When Qs=Qd, what will the price be? a. (k+m)/(l-j) b. (l-j)/(k+m) c. (k-m)/(l+j) d. (l+j)/(k-m)

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter2: Functions And Their Graphs

Section2.1: Linear Equations In Two Variables

Problem 8ECP

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Question

Consider the following model of a market for a good, in which Q_sis quantity produced, Q_d is quantity purchased and P is the price of the good.

Q_s=j+kP

Q_d=l-mP

When Q_s=Q_d, what will the price be?

a. (k+m)/(l-j)

b. (l-j)/(k+m)

c. (k-m)/(l+j)

d. (l+j)/(k-m)

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