The Price of a Certain Commodity in Dollars Per Unit

question 93

Short Answer

The price of a certain commodity in dollars per unit at time t (measured in weeks) is given by
​ .
​
What is the price of the commodity at t = 0?
​
$__________ / unit
​
How fast is the price of the commodity decreasing at t = 0?
​
$__________ / wk
​
Find the equilibrium price of the commodity.

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Definitions:

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