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    asadullahfcc's Avatar
    asadullahfcc Posts: 1, Reputation: 1
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    #1

    Nov 12, 2011, 12:16 PM
    find the equilibrium solution for this model: Qd = 3 - P^2, Qs = 6P - 4 and Qd=Qs
    Please help me to solve this model..
    ArcSine's Avatar
    ArcSine Posts: 969, Reputation: 106
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    #2

    Nov 13, 2011, 06:28 AM
    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.
    ArcSine's Avatar
    ArcSine Posts: 969, Reputation: 106
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    #3

    Nov 13, 2011, 06:32 AM
    Sorry, here's the cleaned up version...



    I haven't had my coffee yet.
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