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Suppose that Kodak supplies its “Instamatic” film cameras according to the equation

Qs = -47,400 + 5,000*PK , where PK is the Kodak camera’s price.

Consumer demand for Kodak’s instamatic cameras is given by the equation

Qd = 33,600 - 100*PK + 2*PN - 50*LN

where PN is the price of the Nikon = $13,000 LN is the quality of the Nikon = 100

. . .

What is the minimum price at which Kodak will sell its instamatic camera?

Koolakuf_DR
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  • I don't really understand what they mean by finding the "minimum price" – Koolakuf_DR Aug 30 '18 at 16:23
  • Welcome to MathSE. Please use MathJax to format your post. Please also include your thoughts and anything you've tried. If that doesn't amount to much, you should try some more -- other posters will be more amenable to helping you if you do. Also, you may be interested in [Economics.SE]. – Theoretical Economist Aug 31 '18 at 01:17

1 Answers1

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You need to solve the following equation: $Qd(PK) = Qs(PK)$

PackSciences
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