1. SUPPLY and DEMAND Use the graphing calculator to answer the following questions and enter your answers on so Desmos. When Walmart sells bananas, there is a demand for 10,000 pounds and a supply of 7000 pour are priced at 45 cents per pound. When they are priced at 55 cents per pound, the demand is and the supply is 10,000 pounds. a. Screen 2: Fill out a table on line 1 for demand and another table on line 3 for supply. U calculator to determine the regression lines. b. What is the demand equation? c. What is the supply equation? d. What is the point of intersection? What is the word given to that point?
1. SUPPLY and DEMAND Use the graphing calculator to answer the following questions and enter your answers on so Desmos. When Walmart sells bananas, there is a demand for 10,000 pounds and a supply of 7000 pour are priced at 45 cents per pound. When they are priced at 55 cents per pound, the demand is and the supply is 10,000 pounds. a. Screen 2: Fill out a table on line 1 for demand and another table on line 3 for supply. U calculator to determine the regression lines. b. What is the demand equation? c. What is the supply equation? d. What is the point of intersection? What is the word given to that point?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![1. SUPPLY and DEMAND
Use the graphing calculator to answer the following questions and enter your answers on screen 3 in
Desmos.
When Walmart sells bananas, there is a demand for 10,000 pounds and a supply of 7000 pounds when they
are priced at 45 cents per pound. When they are priced at 55 cents per pound, the demand is 8000 pounds
and the supply is 10,000 pounds.
a. Screen 2: Fill out a table on line 1 for demand and another table on line 3 for supply. Use the graphing
calculator to determine the regression lines.
b. What is the demand equation?
c. What is the supply equation?
d. What is the point of intersection?
e. What is the word given to that point?
f. Write in words the meaning of your solution. Make sure you include both the x and y values in your
answer.
g. Tell me as much as you can about what happens when they are priced at 49 cents per pound.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4852dbd6-8c25-4c50-8399-afe2ab0ab84b%2F146ddf34-168e-4c82-aa1b-0c3a65c89ad5%2Fmmpu0m_processed.png&w=3840&q=75)
Transcribed Image Text:1. SUPPLY and DEMAND
Use the graphing calculator to answer the following questions and enter your answers on screen 3 in
Desmos.
When Walmart sells bananas, there is a demand for 10,000 pounds and a supply of 7000 pounds when they
are priced at 45 cents per pound. When they are priced at 55 cents per pound, the demand is 8000 pounds
and the supply is 10,000 pounds.
a. Screen 2: Fill out a table on line 1 for demand and another table on line 3 for supply. Use the graphing
calculator to determine the regression lines.
b. What is the demand equation?
c. What is the supply equation?
d. What is the point of intersection?
e. What is the word given to that point?
f. Write in words the meaning of your solution. Make sure you include both the x and y values in your
answer.
g. Tell me as much as you can about what happens when they are priced at 49 cents per pound.
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