Exercise 1.
Given \(\Sprice=20*(1.1)^{(q/10)}\) and \(\Dprice=50*(0.95)^{(q/10)}\text{,}\) with \(q_0=10\text{.}\)
Solution.
Formulas
Table
  1. At \(q_0=10\text{,}\) supply = $22, and demand = $47.50
  2. Using Goal Seek we see that the equilibrium occurs at \(q = 62.5\) and the price is $36.29
in-context