SOLUTION: Free market. The equations 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
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-> SOLUTION: Free market. The equations 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
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Question 179975: Free market. The equations 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?
You can put this solution on YOUR website! The equations 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).
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a) Graph the equations on the same coordinate system.
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b) What happens to the supply as the price increases?
supply increases because the slope is positive; it is 200.
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c) What happens to the demand as the price increases?
Demand decreases because the slope is negative; it is -100
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d) The price at which supply and demand are equal is
called the equilibrium price. What is the equilibrium
price?
5000 + 200x = 9500 - 100x
300x = 4500
x = $15
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Cheers,
Stan H.
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