Suppose 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 _____ _____ _____ By comparing the three prices with the respective quantity calculated in the previous question, write your conclusion about the relation between price and quantity supplied? Find the equilibrium quantity and the equilibrium price. Equilibrium Quantity = ______________ Equilibrium Price = ____________ Suppose that the relation between the price and demand for strawberries changes and is now modeled by p=D(q)=5-0.20q Based on what you know about supply and demand functions, explain in detail how this will affect the equilibrium price and quantity?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Suppose 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
_____ _____ _____
By comparing the three prices with the respective quantity calculated in the previous question, write your conclusion about the relation between price and quantity supplied?
Find the equilibrium quantity and the equilibrium price.
Equilibrium Quantity = ______________
Equilibrium Price = ____________
Suppose that the relation between the price and demand for strawberries changes and is now modeled by
p=D(q)=5-0.20q
Based on what you know about supply and demand functions, explain in detail how this will affect the equilibrium price and quantity?
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
