Suppose the quantity demanded, q, of a product when the price is p dollars is given by the equationp = 1079 – 6q , and the quantity supplied is given by the equation p 7q. Find the equilibriumprice and quantity.%3DEquilibrium quantity:itemsEquilibrium price: $

Explanation of the answer is as follows

Answered: Suppose the quantity demanded, q, of a…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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7. Sky Launch Trampoline Park charges Customers $9.50 per hour they spend jumping. Each customer must also pay $2.50 for grip socks. Write an equation in slope-intercept form to represent this linear function. Derrick spent $31 at Sky Launch Trampoline Park on Sunday. How many hours did he jump?
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Gas mileage actually varies slightly with the driving speed of a car (as well as with highway vs. city driving). Suppose your car averages 29 miles per gallon on the highway if your average speed is 48 miles per hour, and it averages 26 miles per gallon on the highway if your average speed is 65 miles per hour. Answer parts (a) and (b) below. a. What is the driving time for a 2300-mile trip if you drive at an average speed of 48 miles per hour? What is the driving time at 65 miles per hour? The driving time at 48 miles per hour is hours. (Type an integer or decimal rounded to two decimal places as needed.) The driving time is at 65 miles per hour is (Round to two decimal places as needed.) b. Assume a gasoline price of $4.43 per gallon. What is the gasoline cost for a 2300-mile trip if you drive at an average speed of 48 miles per hour? What is the gasoline cost at 65 miles per hour? The gasoline cost at 48 miles per hour is $ (Round to two decimal places as needed.) hours. The…

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Suppose the quantity demanded, q, of a product when the price is p dollars is given by the equation p = 1079 – 6q, and the quantity supplied is given by the equation p = 7q. Find the equilibrium price and quantity. Equilibrium quantity: items Equilibrium price: $