The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q = 7.5 + 30 p million rides per year ( 3 ≤ p ≤ 8 ) , where, p is the cost per ride in zonars ( Z ¯ ) and the supply for the service is modeled by q = 1.2 p + 7.5 million rides per day ( 3 ≤ p ≤ 8 ) at a fare of Z ¯ p .

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Answer 1

Question

Chapter 1.2, Problem 42E

(a)

To determine

To calculate: The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p.

(b)

To determine

To graph: The supply and demand functions using technology, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p in order to confirm the answer graphically obtained in part (a).

(c)

To determine

To calculate: The shortage or surplus of monorail service at December 2085 fare of Z¯6 per ride, if demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8).

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Answer 2

Question

Chapter 1.2, Problem 42E

(a)

To determine

To calculate: The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p.

(b)

To determine

To graph: The supply and demand functions using technology, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p in order to confirm the answer graphically obtained in part (a).

(c)

To determine

To calculate: The shortage or surplus of monorail service at December 2085 fare of Z¯6 per ride, if demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8).

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Answer 3

Question

Chapter 1.2, Problem 42E

(a)

To determine

To calculate: The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p.

(b)

To determine

To graph: The supply and demand functions using technology, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p in order to confirm the answer graphically obtained in part (a).

(c)

To determine

To calculate: The shortage or surplus of monorail service at December 2085 fare of Z¯6 per ride, if demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8).

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Answer 4

Question

Chapter 1.2, Problem 42E

(a)

To determine

To calculate: The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p.

(b)

To determine

To graph: The supply and demand functions using technology, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p in order to confirm the answer graphically obtained in part (a).

(c)

To determine

To calculate: The shortage or surplus of monorail service at December 2085 fare of Z¯6 per ride, if demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8).

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Answer 5

Chapter 1.2, Problem 42E

(a)

To determine

To calculate: The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p.

(b)

To determine

To graph: The supply and demand functions using technology, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p in order to confirm the answer graphically obtained in part (a).

(c)

To determine

To calculate: The shortage or surplus of monorail service at December 2085 fare of Z¯6 per ride, if demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8).

Answer 6

Chapter 1.2, Problem 42E

(a)

To determine

To calculate: The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p.

Answer 7

Chapter 1.2, Problem 42E

(a)

To determine

To calculate: The equilibrium price and equilibrium demand, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p.

Answer 8

(b)

To determine

To graph: The supply and demand functions using technology, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p in order to confirm the answer graphically obtained in part (a).

Answer 9

(b)

To determine

To graph: The supply and demand functions using technology, if the demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8) at a fare of Z¯p in order to confirm the answer graphically obtained in part (a).

Answer 10

(c)

To determine

To calculate: The shortage or surplus of monorail service at December 2085 fare of Z¯6 per ride, if demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8).

Answer 11

(c)

To determine

To calculate: The shortage or surplus of monorail service at December 2085 fare of Z¯6 per ride, if demand for monorail service on the Utarek monorail which links the three urbynes of Utarek Mars can be modeled by q=7.5+30p million rides per year (3≤p≤8), where, p is the cost per ride in zonars (Z¯) and the supply for the service is modeled by q=1.2p+7.5 million rides per day (3≤p≤8).

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 1.1 - In Exercises 1-4, evaluate each expression based...Ch. 1.1 - In Exercises 1-4, evaluate each expression based...Ch. 1.1 - In Exercises 1-4, evaluate each expression based...Ch. 1.1 - In Exercises 1-4, evaluate each expression based...Ch. 1.1 - Prob. 5E Ch. 1.1 - Prob. 6E Ch. 1.1 - In Exercises 5-8, use the graph of the function f...Ch. 1.1 - Prob. 8E Ch. 1.1 - In Exercises 9-12, say whether or not f(x) is...Ch. 1.1 - In Exercises 9-12, say whether or not f(x) is...

Solution Summary: The author calculates the equilibrium price and equilibrium demand by equating the demand and supply.

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