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Suppose that the demand D(a) and the supply S(q) for some luxury wine are given by D(q) = 288.8 – 0.3q2 and S(q) = 0.5q?
Posted: Tue May 10, 2022 12:08 pm
by answerhappygod
- Suppose That The Demand D A And The Supply S Q For Some Luxury Wine Are Given By D Q 288 8 0 3q2 And S Q 0 5q 1 (74.39 KiB) Viewed 20 times
Suppose that the demand D(a) and the supply S(q) for some luxury wine are given by D(q) = 288.8 – 0.3q2 and S(q) = 0.5q?, where q is number of bottles and, D(q) and S(q) are price in dollars. a. Find the equilibrium quantity. Answer: 19 00 bottles b. Find the consumer surplus at the equilibrium quantity. Answer: 180.49 Х dollars c. Find the producer surplus at the equilibrium quantity. Answer: 180.5 Х dollars