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June 10th, 2009, 05:49 PM  #1 
Newbie Joined: Jun 2009 Posts: 3 Thanks: 0  Supply and demand...
Can someone please help me solve this problem. 5 sqrt(p12)=3 sprt(80p) Is this a reasonable supply and demand function? Why or Why not? What is the equilibrium price? What price maximizes revenue? 
June 11th, 2009, 07:29 AM  #2 
Global Moderator Joined: Dec 2006 Posts: 20,755 Thanks: 2137 
Do you mean that 5?(p  12) is the supply function and 3?(80  p) is the demand function? These are equal when p = 30, so that would be the equilibrium price. Do you have a textbook for this? If so, doesn't it give any examples that would have helped you get at least this far? 
June 11th, 2009, 08:28 AM  #3 
Newbie Joined: Jun 2009 Posts: 3 Thanks: 0  Re: Supply and demand...
Yeah i got the equilibrium price where p=30 but cant figure out what price maximizes revenue?

June 11th, 2009, 09:08 AM  #4 
Global Moderator Joined: Dec 2006 Posts: 20,755 Thanks: 2137 
What does your book tell you about deriving the revenue function?


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