Results 1 to 4 of 4

Math Help - Supply and Demand Curve

  1. #1
    Junior Member
    Joined
    Sep 2012
    From
    ny
    Posts
    32

    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 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. __________
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Junior Member MathTutor2013's Avatar
    Joined
    Oct 2012
    From
    usa
    Posts
    25
    Thanks
    6

    Re: Supply and Demand Curve

    Hi, here are the answers:

    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)
    Follow Math Help Forum on Facebook and Google+

  3. #3
    Junior Member MathTutor2013's Avatar
    Joined
    Oct 2012
    From
    usa
    Posts
    25
    Thanks
    6

    Re: Supply and Demand Curve

    I am doing the rest now
    Follow Math Help Forum on Facebook and Google+

  4. #4
    Junior Member MathTutor2013's Avatar
    Joined
    Oct 2012
    From
    usa
    Posts
    25
    Thanks
    6

    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
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Replies: 1
    Last Post: November 10th 2010, 11:03 PM
  2. supply/demand
    Posted in the Pre-Calculus Forum
    Replies: 0
    Last Post: September 21st 2009, 05:58 PM
  3. Supply and Demand
    Posted in the Pre-Calculus Forum
    Replies: 0
    Last Post: November 26th 2008, 12:13 PM
  4. supply and demand
    Posted in the Pre-Calculus Forum
    Replies: 1
    Last Post: November 1st 2008, 09:20 AM
  5. demand and supply
    Posted in the Business Math Forum
    Replies: 5
    Last Post: July 30th 2007, 02:36 AM

Search Tags


/mathhelpforum @mathhelpforum