Q.no.2.9 On Pg.18-chap.2

Discussion in 'CT7' started by query raiser, Jun 11, 2009.

  1. query raiser

    query raiser Member

    Hi!

    We have the supply & demand eq.200p-12500=100,000-250(p+13.5).
    Solving this gives p=257.5 & qty.traded of 39000.
    Whereas the answer gives p=242.5 & qty.of 36000.
    Is it an error or what?Pl.help-which is correct.
     
    query raiser, Jun 11, 2009
    #1
  2. Charlie

    Charlie Member

    I think solving the equation you've given does give P=242.5 and Q=36,000.

    Are you sure you didn't solve:

    200P - 12,500 = 100,000 - 250(P - 13.5)?

    (Ie taking the 13.5 off rather than adding it on.)
     
    Charlie, Jun 12, 2009
    #2
  3. query raiser

    query raiser Member

    Thanks,Charlie-that"s exactly what I did.

    Will have to be more careful from now on-can't pass the exam at this rate.
     
    query raiser, Jun 12, 2009
    #3

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