The demand function of a good is given by $q_d(p)=12-p$, $(p\geq 0)$ and the supply function by $q_s(p)=3p$, $(p\geq 0)$. Determine the market equilibrium.
Antwoord 1 correct
Correct
Antwoord 2 optie
$(q,p)=(3,9)$
Antwoord 2 correct
Fout
Antwoord 3 optie
None of the other answers are correct.
Antwoord 3 correct
Fout
Antwoord 4 optie
$(q,p)=(6,6)$
Antwoord 4 correct
Fout
Antwoord 1 optie
$(q,p)=(9,3)$
Antwoord 1 feedback
Correct:
$$\begin{align*}
q_d(p)=q_s(p)& \Leftrightarrow 12-p=3p\\
& \Leftrightarrow 12=4p\\
& \Leftrightarrow p=3.
\end{align*}$$
Hence, the market equilibrium is $(q,p)=(9,3)$.
Go on.
$$\begin{align*}
q_d(p)=q_s(p)& \Leftrightarrow 12-p=3p\\
& \Leftrightarrow 12=4p\\
& \Leftrightarrow p=3.
\end{align*}$$
Hence, the market equilibrium is $(q,p)=(9,3)$.
Go on.
Antwoord 2 feedback
Wrong: What is $p$?
Try again.
Try again.
Antwoord 3 feedback
Wrong: The correct answer is among them.
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Try again.
Antwoord 4 feedback