# Find the price and quantity at market equilibrium

January 24, 2021
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January 24, 2021

The relationship between the total number xd of unit of a good demanded per week and price of

Shs P per unit is given by ;-

P= 500 ? 2.5Xd

The total number Xs of units which the market is willing to supply each week at a price of shs.P per unit is thought to be of the form.

Xs = ap2 +b where a and b are constants. and the following have been observed.

P 30 60 Xs 1940 248.

i) Determine Xs in term of P. (4mks) ii) Find the price and quantity at market equilibrium (6mks). b) Solve the equation ;-

(2×2-x)2-9(2×2-x)+18=0 (10mks)

E-N-D

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