Given: (q is number of items) Demand function: d(q) = 247.5 -0.5q² Supply function: s(q) = 0.6q² Find the equilibrium quantity: Find the equilibrium price: $ items
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- Qd = 240 - 5p Qs = p find equilibrium price before taxThe supply and demand curves for a product are Supply: y = 500x400 Demand: y = 100x + 8000, where x is the price and y is the number of items produced. Find the equilibrium price and determine the number of items that will be produced at that price. Write your answer as (x,y). (12,6000) (14.6600) O (19.9100) (19.0)Given: (q is number of items) Demand function: p = 612.5 -0.3q² Supply function: p = 0.2q² Find the equilibrium quantity: Find the equilibrium price: $ items
- The monthly sales S (in hundreds of units) of baseball equipment for an Internet sporting goods site are approximated by S = 60.1 - 43.9 cost where t is the time (in months), with t = 1 corresponding to January. Determine the months when sales exceed 7700 units at any time during the month. August through April May through September April through August March through August March through SeptemberFor the cost and price functions below, find (a) the number, q, of units that produces maximum profit; (b) the price, p, in dollars per unit that produces maximum profit; and (c) the maximum profit, P, in dollars. C(q) = 100 + 20q e - 0.04q. ;p%= 80 e -0.04q Find the profit function, P. P(q) =The Demand funchion PE5te -0.0002X where p is The price per unit Cin dollar) and x is the nnmber of uit's P=54e What price Will yield a maximump revenue ?
- Calculate the consumers urplos at the indicated unit price P for the demandl equation P=10+29;P=32Suppose that the demand and price for strawberries are related by p=D(q)=5-0.25q where p represents the price (in dollars) and q is the quantity demanded (in hundreds of quarts). Find the price at the following levels of demand. a.0 quarts b.400 quarts c. 840 quarts _______ _______ ________ 2.-By comparing the three levels of demand to the respective price calculated in the previous question, write your conclusion about the relation between price and demand? Suppose the price and supply of strawberries are related by p=S(q)=0.25q where p is the price in (in dollars) and q is the quantity supplied in (hundreds of quarts) of strawberries. Find the quantity supplied at each price below. a.$0 b. $2 c. $4.50 _____ _____…(b) A company manufactures and sells x television sets per month. The monthly price-demand equation is: p = 180 – 0.3x Determine the maximum monthly revenue. (7 marks)
- Given: (g is number of items) Demand function: d(q) = 518.4 0.3q2 Supply function: s(q) = 0.6q Find the equilibrium quantity: items Find the equilibrium price: $ Submit QuestionFind the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given. 2 Supply: p = 80q Demand: p=q² + 4,800 The equilibrium quantity is q = at price p = $Find the consumer and producer surpluses by using the demand and supply functions, where p is the price (in dollars) and x is the number of units (in millions). Demand Function Supply Function p = 250 − x p = 100 + x