Econ help - Finding the market Equilibrium
14
Qd = -lnP+ln15
Qs = ln(P-2)
I know that to find the market EQ is to do Qd = Qs, but I can see there are some logarithmic equations and I'm pretty terrible at it rn. Is it simply expanding the bracket, trying to isolate P to find the value of it or am I missing something?
Qs = ln(P-2)
I know that to find the market EQ is to do Qd = Qs, but I can see there are some logarithmic equations and I'm pretty terrible at it rn. Is it simply expanding the bracket, trying to isolate P to find the value of it or am I missing something?
Reply 1
21
Original post by Nice_100
Qd = -lnP+ln15
Qs = ln(P-2)
I know that to find the market EQ is to do Qd = Qs, but I can see there are some logarithmic equations and I'm pretty terrible at it rn. Is it simply expanding the bracket, trying to isolate P to find the value of it or am I missing something?
Qs = ln(P-2)
I know that to find the market EQ is to do Qd = Qs, but I can see there are some logarithmic equations and I'm pretty terrible at it rn. Is it simply expanding the bracket, trying to isolate P to find the value of it or am I missing something?
Assuming it is Qs = Qd (no knowledge of that step), you want to take inverse logs (exponentiation) of both sides involving P. However, its easier(?) to write
-ln(P)+ln(15)
as a single log function first using the usual rules to get something like
ln(#)
So have a go at that.
(edited 1 year ago)
Quick Reply
Related discussions
- Game theory economics interview questions
- Have I taken the wrong A-Level Courses?
- Economics Royal Holloway vs International Development KCL
- Economics at undergraduate level
- Please give me a model essay for this
- Psychology with economics or economics with Psychology
- Do these A level options go well/ opinion on the individual subjects
- Post Your Economics Question Here
- Alevels 2025. How is everyone feeling?
- warwick epp (economics, psychology and philosophy) 2021
- Edexcel A Level Econs exam prep
- Edexcel A-level Economics B (Economics and Business) P1 - 12th May 2025 [Exam Chat]
- UCL Imanagement v Notts Econ
- Help - A* Students who sat Economics
- The EE econ or Business
- Is Economics (( or Finance )) degree worth it??
- as econ HELP
- Nottingham - Industrial Economics
- Alevels
- Speech and Language Processing MSc
Latest
Trending
Last reply 2 weeks ago
Edexcel AS Level Maths May 15th 2025 Pure Paper 1 + Unofficial Mark SchemeMaths Study Help
63
160
Last reply 2 months ago
Further mechanics 2 options overlapping with physics rather than stats?
