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Hi All
I am desperate for a solution. Can someone please, please, please help me with this integration problem?
It is attached in the .bmp file.
The final answer should be $235
I would be MOST appreciative for any help.
If it helps, the paper from where this problem comes from is available at: http://wwwdocs.fce.unsw.edu.au/economics/news/VisitorSeminar/QG.pdf on page 62.
Jane
p.s. apparently there will be rounding errors, so the answer will just be 'close' to the answer given
p.p.s if it is not too much trouble, could you please write each step - as I have to repeat this with different data (and I am a mathematics novice). Thankyou kindly.
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Hi Jane001;
I don't understand what pA(q) and pB(q) are, you have defined qT(p) and qB(p).
In mathematics, you don't understand things. You just get used to them.
If it ain't broke, fix it until it is.
Always satisfy the Prime Directive of getting the right answer above all else.
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Hi Jane001;
I don't understand what pA(q) and pB(q) are, you have defined qT(p) and qB(p).
Hello!
I believe it is the inverse of the quantity equation to express them in terms of price.
Beyond that, I don't understand either.
Thanks for having a look anyway. Appreciate it.
Jane