vytdgffiedoschia
contestada

Let one weeks supply and demand functions for gasoline be given by p=D(q)=288-5/2q and p=s(q)=3/2q, where p is the price in dollars and q is the number of 42 gallon barrels. A. Graph these equations on the same axes. B. Find the equilibrium quantity. C. Find the equilibrium price.

Respuesta :

meerkat18
A. To make a quantity-price graph, assign any value for q and solve for p. Plot the ordered pairs and connect.

B. To determine the equilibrium quantity, equate the price for demand and supply,
                                 288 - 5/2q = 3/2q
The value of q from the equation is q = 1/72.

C. To get the equilibrium price, substitute the value of q to any of the equations,
                                  p = D(p) = 288 - 5/2(1/72) = 108

lhmarianateixeira

In this exercise we have to use the knowledge of graph construction to be able to find the values ​​of the equations then:

A) The graph is in pairs and connect

B)[tex]q = 1/72[/tex]
C)[tex]p=108[/tex]

So for the correct graphic assembly to occur we have:

A) The plot the ordered pairs and connect, so:

[tex]D(q)=288-5/2q\\S(q)=3/2q[/tex]

B) To determine the equilibrium quantity, let's join the two known equations:

[tex]288 - 5/2q = 3/2q\\ q = 1/72.[/tex]

C) To get the equilibrium price, substitute the value we have:

[tex]p = D(p) = 288 - 5/2(1/72) = 108[/tex]

See moer about functions at brainly.com/question/5245372

Otras preguntas

Q&A Education