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anonymous
 4 years ago
can i get some help with this question. We know that the quantity of tuna demanded and supplied is related to the price of tuna. Given that the demand function for tuna is q=(306.25p)0.5+2.5 and the inverse supply function for tuna is p=76+3q. All quantities are in kilograms and prices in $TT. Determine the quantity of the tuna that will be demanded and supplies when the market is in equilibrium. NB 0.5 is to the power
anonymous
 4 years ago
can i get some help with this question. We know that the quantity of tuna demanded and supplied is related to the price of tuna. Given that the demand function for tuna is q=(306.25p)0.5+2.5 and the inverse supply function for tuna is p=76+3q. All quantities are in kilograms and prices in $TT. Determine the quantity of the tuna that will be demanded and supplies when the market is in equilibrium. NB 0.5 is to the power

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TuringTest
 4 years ago
Best ResponseYou've already chosen the best response.2I'm pretty sure that equilibrium would be when supply equals demand, so solve each equation for either q or p ans set the two equal. That will let you find one variable, which you can then use to find the other.
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