00:01
Okay, so the demand equation, okay, so we're going to answer from the first question, or a.
00:10
The demand equation is given by 150 minus 2 px plus 0 .001m plus 1 .5 p .y.
00:28
And so we want to answer what type of good is apple bonkers.
00:33
So we want to look at here the coefficient of p .y.
00:37
This is the price of apple bonkers.
00:38
This is the price of apple bonkers.
00:39
Bonkers and so this is positive and what it means is that apple bonkers is a complementary good to a to blue to blue minis because as as a price of apple bonkers increases the demand for the blue minis also increases so that will be the complementary good 2.
01:17
What are the equilibrium price and quantity of blue minis? so we equate the demand equation to the supply equation.
01:31
And so we get 150 minus 2 px plus 0 .001 times m is given as 25 ,000 and plus 1 .5 p .y is 5.
01:50
Equals 60 plus 4px and minus 2 .5 times ww is given as 8 .6 so that we obtain.
02:10
So let me calculate this one right here.
02:29
That gives 1802 .5 minus 2 px equals 382 .5 minus 2 px equals 38 .5...
