SOLUTION: Free market. The equation S = 5000 + 200x and D = 9500 - 100x express the supply S and the demand D, respectively, for a popular compact disc brand in terms of its price x (i
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Question 176356: Free market. The equation S = 5000 + 200x and D = 9500 - 100x express the supply S and the demand D, respectively, for a popular compact disc brand in terms of its price x (in dollars).
a) Graph the equations on the same coordinate system.
b) What happens to the supply as the price increases?
c) What happens to the demand as the price increases?
d) The price at which supply and demand are equal is called the equilibrium price. What is the equilibrium price?
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
a.)Supply graph is in red.
Demand graph is in green.
.
.
.
b.) Supply goes up as price increases.
.
.
.
c.) Demand goes down as price increases.
.
.
.
At the equilibrium price,
The equilibrium price is $15.
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