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To find:
The demand for the electric can opener at each price.
(a) $6
(b) $11
(c) $16
Suppose the demand and price for a certain model of electric can opener are related by,
Using the information supply and demand in many applications of economics, as the price of an item goes up, demand for the item goes down and supply of the item goes up. The price where supply and demand are equal is the equilibrium price, and the resulting supply or demand is the equilibrium supply or equilibrium demand.
Suppose the supply of a product is related to its price by the equation,
Where p is in dollars and q is supply in appropriate units. (Here, q stands for quality.) Furthermore, suppose demand and price for the same product are related by,
Where p is price and q is demand. The system formed by these two equations has solution (18, 12), as seen in the graph.
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Chapter 5 Solutions
Essentials of College Algebra, Loose-Leaf Edition Plus MyLab Math with Pearson eText -- 18 Week Access Card Package
- (±³d-12) (−7+ d) = |||- \d+84arrow_forward(z- = (-2) (→ Use the FOIL Method to find (z — · -arrow_forwardMODELING REAL LIFE Your checking account has a constant balance of $500. Let the function $m$ represent the balance of your savings account after $t$ years. The table shows the total balance of the accounts over time. Year, $t$ Total balance 0 1 2 3 4 5 $2500 $2540 $2580.80 $2622.42 $2664.86 $2708.16 a. Write a function $B$ that represents the total balance after $t$ years. Round values to the nearest hundredth, if necessary. $B\left(t\right)=$ Question 2 b. Find $B\left(8\right)$ . About $ a Question 3 Interpret $B\left(8\right)$ . b represents the total balance checking and saving accounts after 8 years the balance would be 16 / 10000 Word Limit16 words written of 10000 allowed Question 4 c. Compare the savings account to the account, You deposit $9000 in a savings account that earns 3.6% annual interest compounded monthly. A = 11998.70 SINCE 9000 is the principal ( 1+0.036/12)12 times 8 gives me aproxtimately 1997 14 / 10000 Word Limit14 words written of 10000 allowed Skip to…arrow_forward
- Listen MODELING REAL LIFE Your checking account has a constant balance of $500. Let the function m represent the balance of your savings account after t years. The table shows the total balance of the accounts over time. Year, t Total balance 0 $2500 1 $2540 2 $2580.80 3 $2622.42 4 $2664.86 5 $2708.16 a. Write a function B that represents the total balance after t years. Round values to the nearest hundredth, if necessary. B(t) = 500 + 2000(1.02)* b. Find B(8). About $2843.32 Interpret B(8). B I U E T² T₂ c. Compare the savings account to the account, You deposit $9000 in a savings account that earns 3.6% annual interest compounded monthly. B I U E E T² T₂ A = 11998.70 SINCE 9000 is the principal (1+0.036/12)12 times 8 gives me aproxtimately 1997arrow_forwardWhat are the answers for star powerarrow_forwardThe recciprocal rulearrow_forward
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