Concept explainers
(a)
To calculate: The quantity of the equilibrium price for T-shirts at this concert.
(a)
Answer to Problem 39AYU
The equilibrium quantity is
Explanation of Solution
Given information:
The quantity supplied
Where
Formula used:
Calculation:
Quantity of the equilibrium price for T-shirts at this concert is calculated as:
b.
To calculated:
The prices for which quantity demanded is greater than quantity supplied.
b.
Answer to Problem 39AYU
The prices for which quantity demanded is greater than quantity supplied is
Explanation of Solution
Given information:
Where
Formula used:
Calculation:
Prices for which quantity demanded is greater than quantity supplied is calculated as:
c.
To calculate: thing which will eventually happen to the price of t shirts if quantity demanded is greater than quality supplied.
c.
Answer to Problem 39AYU
The statement is explained.
Explanation of Solution
Given information:
Where
Formula used:
If the quantity demanded is less than quantity supplied then the prices of t-shirts will decrease.
Chapter 3 Solutions
Precalculus
Additional Math Textbook Solutions
University Calculus: Early Transcendentals (3rd Edition)
Precalculus Enhanced with Graphing Utilities (7th Edition)
Glencoe Math Accelerated, Student Edition
Thomas' Calculus: Early Transcendentals (14th Edition)
Precalculus
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning