ASsigionses/dəppz=soZ CI8/69tzuojisənb4Əsoine=s cn91The table shows both the number of a certain type of graphing calculator in demand and the number supplied at certain prices.Demand and Supply Schedules for a Graphing Calculator (Producers willsupply no calculators when the market price is less than $47.50.)Price (dollarsper calculator)Demand (millioncalculators)Supply (millioncalculators)603510903132120155015058018041002103120(a) Find the function for the logistic model for demand in million calculators, where p is the price per calculator in dollars, with data from 60 < p < 210. (Round all numerical values to three decimal places.Use the correct input variable, p. Paste the unrounded equation into your Y1.)D(p) =million calculatorsFind the function for linear model for supply in million calculators, where p is the price per calculator in dollars, with data from 60 s p S 210. (Round all numerical values to three decimal places. Use thecorrect input variable, p. Paste the unrounded equation into your Y2.)for p < 47.5S(p) =million calculators;for p 2 47.5p dollars per calculator, where 60 < p < 210.Tip: Be sure you are using the unrounded demand and supply functions for the calculations that follow. Using the rounded functions may result in incorrect answers.(b) At what price will market equilibrium occur? (Round your answer to two decimal places.)2$per calculatorHow many calculators will be supplied and demanded at this price? (Round your answer to two decimal places.)million calculators梦 05:29 PMType here to search82°F10/14/2021田II

Answered: स The table shows both the number of a…

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 4MC

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