@@sharonakunna6106 In this equation, is P isolated? For example:[ P = 2/3Qd ]? If so, this is something called the "Inverse Demand" or "Inverse Supply" function. We've made a video about it here: ruclips.net/video/OTmNFH6tcKU/видео.html
@@sharonakunna6106 So first things first, you want to get rid of those fractions. For the Qd equation, multiply both sides of the equals sign by 10 (to get rid of the 1/10 since 10 x 1/10 = 1). That will give you the following line: Qd = 240 - 5P. For the Qs equation, multiply Bothe sides of the equals sign by 4 (to get rid of the 1/4 since 4 x 1/4 = 1). That will give you the following line: Qs = 40 + 20P. Now the fractions are gone and you can solve like I show in the video! Does this help?
Ahh very good catch, I don't know how I missed it during editing. It turns out I had mistakenly writing it a 2/5P for the entire time the red equation was up on screen🤦 I hope that it was easy to follow despite the typo!
Because some people students struggle to grasp how the math works with fractions, so I made sure to explain it thoroughly in this video. Some people can solve it much quicker (such as yourself), but I wanted to make sure the video was crystal clear for those who find it a little bit harder
If you found this video helpful, consider liking the video and subscribing to the channel for more educational econ videos like this one! :)
What if the fraction is in front of Qs and Qd
@@sharonakunna6106 In this equation, is P isolated? For example:[ P = 2/3Qd ]? If so, this is something called the "Inverse Demand" or "Inverse Supply" function.
We've made a video about it here: ruclips.net/video/OTmNFH6tcKU/видео.html
@@ThinkEcon 1/10Qd =24-0.5p 1/4Qs=10+5p how do I solve this?
@@sharonakunna6106 So first things first, you want to get rid of those fractions.
For the Qd equation, multiply both sides of the equals sign by 10 (to get rid of the 1/10 since 10 x 1/10 = 1). That will give you the following line: Qd = 240 - 5P.
For the Qs equation, multiply Bothe sides of the equals sign by 4 (to get rid of the 1/4 since 4 x 1/4 = 1). That will give you the following line: Qs = 40 + 20P.
Now the fractions are gone and you can solve like I show in the video! Does this help?
@@ThinkEcon thank you so much 😫❤️❤️🙌
The supply equation is written incorrectly in red at the 4:15 mark. It was originally 5/2p but was written mistakenly as 2/5p
Ahh very good catch, I don't know how I missed it during editing. It turns out I had mistakenly writing it a 2/5P for the entire time the red equation was up on screen🤦 I hope that it was easy to follow despite the typo!
Helpful video
Glad you think so!
I like the teaching
Thank you!
Why Do you Change QS is = -5+5/2P to -5+2/5p
I believe it was a mistake
I believe it was a mistake
Those words is covering us
well explained
Thank you!
I'll be having exams next month and am kindly asking if we can look at some exam questions
We can set up a one-on-one tutoring session if that's something that interests you? Email me at think.econyt@gmail.com for details
Alright I've sent you an email
Well actually it said the address was not found
Perhaps you may need to copy and paste the email to make sure you have all of the correct letters and symbols
3:32
Thanks
You're welcome!
What about when only one side has a fraction
It would technically be the same steps, but only applying the fractions steps to one side. The steps to solve remain unchanged.
Factor of labour
Where From (University name) have you majored economics?
pls can you help with this question
p=200-q-q^2
q=24-3p^2
no one answered my question can someone pls turn up
Why this long sol. 6*(20+5)=(5/2p+5/3p)*6
150=25p divide both sides by 25
P=6
Because some people students struggle to grasp how the math works with fractions, so I made sure to explain it thoroughly in this video. Some people can solve it much quicker (such as yourself), but I wanted to make sure the video was crystal clear for those who find it a little bit harder
U words are covering the calculations
remove the subtitle
I get how to solve it but still not balance
Maybe if you tell me which part is confusing I can offer some guidance?