If the supply and demand functions for a commodity are given by p-q = 10 andq(2p-10) = 1000, what is the equilibrium price and what is the corresponding numberof units supplied and demanded?Е(30.00, 20.00)A)В)Е(30.00, -15.00)C)E(30.00,40.00)D)E(15.00,–25.00)E(15.00,40.00)E)The supply function for a product is 2p-q-10= 0, while the demand function for thesame product is (p+10)(g+30)=7200. Find the market equilibrium point E(q.p).A)E(110.00,50.00)E(-150.00,–70.00)B)C)E(30,10)E(90.00,50.00)E(-70.00,50.00)D)E) 2A supply function has the equation is p=-q² +40, and the demand function is2decribed by the equation p= 86– 6q – 3q². Algebraically determine the equilibriumpoint for the supply and demand functions.E(2.87,–4.58)A)E(-4.58,44.11)B)C)E(-,86)2D)E(2.87,44.11)E(2.87,4.11)E)If the supply function for a commodity is p=q²+8q+16 and the demand function isp=-9q° +6q+426, find the equilibrium quantity and equilibrium price.E(6.30,35.15)A)E(-6.50,72.74)В)C)E(6.30,72.74)D)E(6.30,51.15)E(6.30,106.17)E)

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Answered: If the supply and demand functions for…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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If the supply and demand functions for a commodity are given by p-q =10 and q(2p-10) = 1000, what is the equilibrium price and what is the corresponding number of units supplied and demanded? E(30.00,20.00) A) Е(30.00, -15.00) B) E(30.00,40.00) C) Е(15.00, -25.00) D) E) E(15.00,40.00)