Unformatted text preview: follows: Demand: Q d = - 100P + 1,150 Inverse Demand: P = - 0.01 Q d + 11.5 Supply: Q s = 400 P - 100 Inverse Supply: P = 0.0025 Q s + .25 Using this information, determine the equilibrium price and quantity for bottled water in this market. Explain what will happen in the market if price equals $4.00. What will happen if price equals $2.00?...
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This note was uploaded on 12/16/2009 for the course AEM 2500 taught by Professor Poe,g. during the Fall '07 term at Cornell.
- Fall '07