Supply and Demand Suppose that the quantity supplied S and the quantity demanded D of hot dogs at a baseball game are given by the following functions: S ( p ) = − 2000 + 3000 p D ( p ) = 10 , 000 − 1000 p where p is the price of a hot dog. a. Find the equilibrium price for hot dogs at the baseball game. What is the equilibrium quantity? b. Determine the prices for which quantity demanded is less than quantity supplied. c. What do you think will eventually happen to the price of hot dogs if quantity demanded is less than quantity supplied?
Supply and Demand Suppose that the quantity supplied S and the quantity demanded D of hot dogs at a baseball game are given by the following functions: S ( p ) = − 2000 + 3000 p D ( p ) = 10 , 000 − 1000 p where p is the price of a hot dog. a. Find the equilibrium price for hot dogs at the baseball game. What is the equilibrium quantity? b. Determine the prices for which quantity demanded is less than quantity supplied. c. What do you think will eventually happen to the price of hot dogs if quantity demanded is less than quantity supplied?
Solution Summary: The author explains that the equilibrium price for hot dogs at the baseball game is 3 and the quantity demanded is 7000.
Supply and Demand Suppose that the quantity supplied S and the quantity demanded D of hot dogs at a baseball game are given by the following functions:
where
is the price of a hot dog.
a. Find the equilibrium price for hot dogs at the baseball game. What is the equilibrium quantity?
b. Determine the prices for which quantity demanded is less than quantity supplied.
c. What do you think will eventually happen to the price of hot dogs if quantity demanded is less than quantity supplied?
2. [-/4 Points]
DETAILS
MY NOTES
SESSCALCET2 7.3.002.
Let S be the solid obtained by rotating the region shown in the figure about the y-axis. (Assume a = 6 and b = 2.)
ASK YOUR TEACHER
0
y = a sin(bx²)
Sketch a typical approximating shell.
y
6
4
2
x
π/b
y
2
1
x
0.5
1.0
1.5
0.2
0.4
0.6
0.8
1.0
-2
-1
-4
The graph of f', the derivative of f, is shown in the graph below. If f(-9) = -5, what is the value of f(-1)?
y
87 19
6
LO
5
4
3
1
Graph of f'
x
-10 -9 -8 -7 -6 -5 -4 -3 -2 -1
1
2
3
4 5
6
7 8 9 10
-1
-2
-3
-4
-5
-6
-7
-8
564%
Elementary Statistics ( 3rd International Edition ) Isbn:9781260092561
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