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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(p-12)=3 sprt(80-p) 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: 21,036 Thanks: 2274 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: 21,036 Thanks: 2274 What does your book tell you about deriving the revenue function?

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