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
- At \(q_0=10\text{,}\) supply = $22, and demand = $47.50
- Using Goal Seek we see that the equilibrium occurs at \(q = 62.5\) and the price is $36.29