
Concept explainers
The able shows the price of a gallon of unleaded premiumgasoline. For each price, the table lists the number of gallonsper day that a gas station sells and the number of gallons perday that can be supplied.
SUPPLY AND DEMAND FOR UNLEADED PREMIUM GASOLINE
Price perGallon | Gallons Demandedper Day | Gallons Suppliedper Day |
S3.20 | 1400 | 200 |
$3.60 | 1200 | 600 |
$4.40 | 800 | 1400 |
$4.80 | 6(10 | 1800 |
The data in the table are described by the following demandand supply models:
Demand Model Supply Model
Price par gallon Number of gallons $$$ per day Price per gallon Number of gallons supplied per day
a. Solve the system and find the equilibrium quantity and the equilibrium price for a gallon of unleaded premiumgasoline. 1000 gallons; $4
b. Use your answer from part (a) tocomplete this statement:
If unleaded premium gasoline is sold for $4 pergallon, there will be a demand for 1000 gallonsper day and 1000 gallons will be supplied per day.

Want to see the full answer?
Check out a sample textbook solution
Chapter 7 Solutions
Thinking Mathematically (7th Edition)
- Can you help me with D and Earrow_forwardQ1.1 1 Point Any set {V1, V2, V3, V4} that consists of four different vectors from R cannot possibly span Rº. True False Save Answerarrow_forwardFind: lim x →-6 f (x) limx-4 f (x) lim x-1 f (x) lim x →4 f (x) (-6,3) • (-1,5) -8 -7 (-6,-2) 4+ (4,5) (4,2) • (-1,1) -6arrow_forward
- 3 2 Find: ƒ(1) lim f(x) 14-x 2 ƒ(2) lim f(x) x-2- lim f(x) x+2+ lim f(x) x→4 3 y=f(x)arrow_forwardFor each graph below, state whether it represents a function. Graph 1 24y Graph 2 Graph 3 4 2 -8 -6 -4 -2 -2 2 4 6 Function? ○ Yes ○ No ○ Yes ○ No Graph 4 Graph 5 8 Function? Yes No Yes No -2. ○ Yes ○ No Graph 6 4 + 2 4 -8 -6 -4 -2 2 4 6 8 Yes -4++ Noarrow_forwardStudents were asked to simplify the expression (secØ - cosØ)/secØ Two students' work is given.Student A: step 1 secØ/secØ - cosØ/secØstep 2 cosØ/1 - (1/cosØ)step 3 1 - cos^2Østep 4 sin^2ØStudent B: step 1 (1/cosØ)-cosØ)/secØstep 2 (1 - cos^2Ø/cosØ)/secØstep 3 sin^2Ø/cos^2Østep 4 tan^2ØPart A: Which student simplified the expression incorrectly? Explain the errors that were made or the formulas that were misused.Part B: Complete the student's solution correctly, beginning with the location of the error.arrow_forward
- Although 330° is a special angle on the unit circle, Amar wanted to determine its coordinates using the sum and difference formulas.Part A: Determine cos 330° using the cosine sum identity. Be sure to include all necessary work.Part B: Determine sin 330° using the sine difference identity. Be sure to include all necessary work.arrow_forwardA public health researcher is studying the impacts of nudge marketing techniques on shoppers vegetablesarrow_forward4. Let A {w, e, s, t, f, i, e, l, d, s, t, a, t, e}. (a) How many different words (they do not have to make sense) can you spell with the letters in A? (b) Is your answer from above the same as the cardinality of the powerset of A, i.e. of P(A)? (c) What is |A|?arrow_forward
- what can the answer be pls helparrow_forward5. How many numbers can you make out of the digits 1, 2, 3, 4, 6 if the rule is that every digit has to be larger than the digit preceding it? For example 124 is ok, 122 is not ok. Every digit can be used only once, but you do not have to use every digit. A tree might help.arrow_forward5 plsarrow_forward
- Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal LittellGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillFunctions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
- Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning





