Microeconomics With Simple Mathematics Pdf

Equilibrium occurs where quantity demanded equals quantity supplied: $Q_d = Q_s$.

A classic example is the demand function, which states that quantity ( q ) is a function of price ( p ): q = q(p) . A specific example of this might be q = 100 - 6p . Here, q is the dependent variable, and p is the independent variable. The numbers 100 and 6 are that define the specific relationship and do not change. microeconomics with simple mathematics pdf

Microeconomics with Simple Mathematics.pdf q is the dependent variable

Q*=100−2(15)=70cap Q raised to the * power equals 100 minus 2 open paren 15 close paren equals 70 microeconomics with simple mathematics pdf