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-   -   find the equilibrium solution for this model: Qd = 3 - P^2, Qs = 6P - 4 and Qd=Qs (https://www.askmehelpdesk.com/showthread.php?t=611616)

  • Nov 12, 2011, 12:16 PM
    asadullahfcc
    find the equilibrium solution for this model: Qd = 3 - P^2, Qs = 6P - 4 and Qd=Qs
    Please help me to solve this model..
  • Nov 13, 2011, 06:28 AM
    ArcSine
    To say that is equivalent to saying

    So you just need to find the p that satisfies

    Tip: This quadratic will give you two solutions for p, but you'll quickly see that only one makes sense in the problem, since we don't normally deal with negative prices and negative quantities in our universe :-)

    After finding the equilibrium price, plug it back in to either of the demand equations to find equilibrium d.
  • Nov 13, 2011, 06:32 AM
    ArcSine
    Sorry, here's the cleaned up version...



    I haven't had my coffee yet.

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