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. (Hint: It's given by 
. Also, use the fact that 
.)
?
$__________ / unit
What will be an ideal response?
9; 3; 7
Mathematics
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