Concept explainers
Find the equilibrium point for the following demand and supply functions where q is the quantity in thousands of units, and x is the price per unit, in dollars,
Demand:
Supply:
Want to see the full answer?
Check out a sample textbook solutionChapter R Solutions
Calculus and Its Applications (11th Edition)
Additional Math Textbook Solutions
Calculus, Single Variable: Early Transcendentals (3rd Edition)
Precalculus Enhanced with Graphing Utilities (7th Edition)
University Calculus: Early Transcendentals (3rd Edition)
Precalculus (10th Edition)
Calculus & Its Applications (14th Edition)
University Calculus: Early Transcendentals (4th Edition)
- bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.arrow_forwardThe kinetic energy E of an object varies jointly with the object’s mass m and the square of the object’s velocity v . An object with a mass of 50 kilograms traveling at 16 meters per second has a kinetic energy of 6400 joules. What is the kinetic energy of an object with a mass of 70 kilograms traveling at 20 meters per second?arrow_forwardThe demand function for a manufacturer's microwave oven is p(x) = 900e−0.03x, where x is measured in thousands. Calculate the consumer surplus (in dollars) when the sales level for the ovens is 43,000. (Round your answer to the nearest cent.) Submit Answerarrow_forward
- A. Find the average cost function for ? televisions produced. B. Find the instantaneous rate of change of the average cost function.arrow_forwardA quant jock from your firm used a linear demand specification to estimate the demand for its product and sent you a hard copy of the results. Unfortunately, some entries are missing because the toner was low in her printer. Use the information presented below to find the missing values labeled ‘1’ through ‘7’ (round your answers to the nearest hundredth). Then, answer the accompanying questions. a. Based on these estimates, write an equation that summarizes the demand for the firm’s product. b. Which regression coefficients are statistically significant at the 5 percent level? c. Comment on how well the regression line fits the data.arrow_forwardA software entertainment company recently ran a holiday sale on its popular software program. Using data collected from the sale, it is possible to estimate the demand corresponding to various discounts in the price of the software. Assuming that the original price was $36, the demand for the software can be estimated by the function -2.504 q=3,742,000p the elasticity of demand. where p is the price and q is the demand. Calculate and interpret What formula should be used to compute the elasticity of demand, E, if q is demand at a price p? O A. E= P dp dq b. P dq q dp. O B. E= - C. E=p dq O D. E=q dparrow_forward
- A demand function is modeled by x = a / pm where a is a constant and m > 1.Show that ? = −m. In other words, show that a 1% increase in price results in an m% decrease in the quantity demanded.arrow_forwardWhen the price of a book is $125, a book store can expect to sell 600 books. If the price rises to $150, the demand drops to 520 books. The elasticity of demand for the book is E = Is the demand elastic or inelastic?arrow_forwarduse the demand function below to answer the questions that follows Qdx = 3/4 -1/3Px - 5Py + 2Pz - 2/10M Given that Py = 2; Pz = 10 and M is 5: (e) Find the demand function (f) plot the demand function (g) using the information in (e), calculate the quantity if price is Px = 3arrow_forward
- Find the consumers' surplus (to the nearest dollar) at a price level of p = $2.083 for the price-demand equation p = D(x) = 9 - In (x+ 6). Use x computed to the nearest higher unit. Cs = $ (Simplify your answer. Round to the nearest dollar as needed.)arrow_forwardThe scrap value of a machine at the end of its useful life is given by S(n) = C(1-r)", where C is the original cost, n is the useful life of the machine in years, and r is the constant annual percentage of value lost. Find the scrap value of the following machine. Original cost, $49,000; life, 11 years; annual rate of value lost, 13% S=$ (Round to the nearest cent.)arrow_forwardA conical tank (diameter= 4m, height=5 m) is initially full of water. At time zero, water discharges from the small hole at the bottom tip of the tank. The level h, of water in the tank from the bottom, is given as function of time: h=(55.90 -14.92t)0.4 where h is in m, and t is time in hours. Determine the percent of the initial water discharged from the tank after 175 minutes.Lütfen birini seçin: a.92.6 b.86.6 c.79.6 d.86.6 e.83.6arrow_forward
- Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal LittellAlgebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning