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 ;-
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