Effect of Price on Supply of Eggs Suppose the wholesale price of a certain brand of medium-sized eggs p (in dollars/carton) is related to the weekly supply x (in thousands of cartons) by the following equation. 625p² - x² = 100 If 24000 cartons of eggs are available at the beginning of a certain week and the price is falling at the rate of 3c/carton/week, at what rate is the supply changing? (Round your answer to the nearest whole number.) (Hint: To find the value of p when x = 24, solve the supply equation for p when x = 24.) -83 X cartons per week
Effect of Price on Supply of Eggs Suppose the wholesale price of a certain brand of medium-sized eggs p (in dollars/carton) is related to the weekly supply x (in thousands of cartons) by the following equation. 625p² - x² = 100 If 24000 cartons of eggs are available at the beginning of a certain week and the price is falling at the rate of 3c/carton/week, at what rate is the supply changing? (Round your answer to the nearest whole number.) (Hint: To find the value of p when x = 24, solve the supply equation for p when x = 24.) -83 X cartons per week
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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EX 3.6 Q11

Transcribed Image Text:Effect of Price on Supply of Eggs Suppose the wholesale price of a certain brand of medium-sized eggs p (in dollars/carton) is related to the weekly supply x (in thousands of
cartons) by the following equation.
625p² - x² = 100
If 24000 cartons of eggs are available at the beginning of a certain week and the price is falling at the rate of 3c/carton/week, at what rate is the supply changing? (Round your answer to
the nearest whole number.) (Hint: To find the value of p when x = 24, solve the supply equation for p when x = 24.)
-83
X cartons per week
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