SOLUTION: The function S=5000 +200x and D= 9500 -100x express the supply S and the demand D respectively, for a popular CD brand as a function of its price x in dollars. Graph the functions

Algebra ->  Coordinate Systems and Linear Equations  -> Lessons -> SOLUTION: The function S=5000 +200x and D= 9500 -100x express the supply S and the demand D respectively, for a popular CD brand as a function of its price x in dollars. Graph the functions      Log On


   

Question 146117: The function S=5000 +200x and D= 9500 -100x express the supply S and the demand D respectively, for a popular CD brand as a function of its price x in dollars.
Graph the functions on the same coordinate system.
What happens to the supply as price increases?
What happens to demand as price increases?
The price at which supply and demand are equal is called equilibrium price. What is the equalibrium price?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
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The function S=5000 +200x and D= 9500 - 100x express the supply S and the demand D respectively, for a popular CD brand as a function of its price x in dollars.
Graph the functions on the same coordinate system.
:
Graph both for x = 5 and x = 25; let S and D = y
S = 5000 + 200x; (purple)
x | y
-------
5 |6000
25 |1000
and
D = 9500 - 100x; (green)
x | y
-------
5 |9000
25 |7000
:
Graph should look like this:
+graph%28+300%2C+200%2C+-20%2C+80%2C+-2000%2C+12000%2C+200x%2B5000%2C+-100x%2B9500%29+
:
What happens to the supply as price increases?
Supply goes up (purple)
:
What happens to demand as price increases?
Demand goes down (green)
:
The price at which supply and demand are equal is called equilibrium price. What is the equalibrium price?
:
Where the two graphs intersect, x = 15; is the equilibrium price