here are my two questions:
1) can i use the quadratic model for suuply and the exponential model for demand to calculate the market price?
2) how can i use the Goal Seek to find the market price? (btw the two models i obtained are in different axises.
thanks very much if anybody could give me a hand!
Nov 1st 2008, 09:20 AM
Rule #1 - Be VERY careful with models that don't have inverses. This can lead to multiple, confusing solutions.
Rule #2 - The quadratic model is popular, due to its simplicity, but you MUST be careful to restrict its Domain.
Rule #3 - Speak and write with clarity. "The Quadratic Model" is insufficient. What quadratic model. I'm certain Ii could dream up a few thousand that would be entirely inappropriate.