# Supply and Demand Curve

• Oct 6th 2012, 09:00 AM
spyder12
Supply and Demand Curve
You are given a pair of equations, one representing a supply curve and the other representing a demand curve, where p is the unit price for x items.
and
a) Identify which is the supply curve and demand curve and the appropriate domain. Put the domains in interval notation . For https://www.baruch.cuny.edu/webwork2...41e302bd81.png type infinity . For more than one interval use a U to represent a "union".
Domain of the supply curve __________
Domain of the demand curve __________
b) Determine the market equilibrium. Equilibrium: x = __________ p = __________
c) Determine the revenue function. Revenue function R(x)= __________
d) Determine the revenue at market equilibrium. __________
• Oct 6th 2012, 10:02 AM
MathTutor2013
Re: Supply and Demand Curve

a)

Demand curve is: 95p+x-1752 =0
Supply curve is: 171p-x-32=0

b)

Equilibrium: p = 6.71 (rounded to 2 dp)
x = 114.86 (rounded to 2 dp)
• Oct 6th 2012, 10:02 AM
MathTutor2013
Re: Supply and Demand Curve
I am doing the rest now
• Oct 6th 2012, 10:07 AM
MathTutor2013
Re: Supply and Demand Curve
c)

Demand curve is: 95p+x-1752 =0

p(x) = (1752-x)/95
R(x) =xp(x) = x(1752-x)/95

d)

If x = 114.86 then R(x)=R(114.86) = 114.86(1752-114.86)/95 = 1979.39

Let me know if you need more help

Steve