equilibrium production level
Not what you're looking for?
The law of Supply and Demand states that in a competitive market environment, supply tends to equal demand, and when this occurs, the market is said to be in equilibrium. Thus, market equilibrium occurs at the production level, xe, where S(xe) = D(xe). Note that S(x) is the supply function and D(x) is the demand function. For the supply and demand functions below find the value of xe where equilibrium occurs.
Show all work.
D(x) = -2x+275 and S(x) = 3x+150.
See the attached file.
Purchase this Solution
Solution Summary
The solution shows how to find the equilibrium point when both supply and demand functions are given.
Solution Preview
In equilibrium, D(x) = S(x)
-2x + 275 =3x + 150
Move x terms to ...
Purchase this Solution
Free BrainMass Quizzes
Solving quadratic inequalities
This quiz test you on how well you are familiar with solving quadratic inequalities.
Geometry - Real Life Application Problems
Understanding of how geometry applies to in real-world contexts
Graphs and Functions
This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.
Know Your Linear Equations
Each question is a choice-summary multiple choice question that will present you with a linear equation and then make 4 statements about that equation. You must determine which of the 4 statements are true (if any) in regards to the equation.
Multiplying Complex Numbers
This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.