Unformatted text preview: market. Often, the demand equation is found empirically (through experiment, or market research). The demand equation for a certain type of printer is given by: D = - 200 p + 35,000 The supply equation is predicted to be: S = - p 2 + 400 p -20,000 (a). Does the graph of the supply equation open up or down? How did you determine this? (b). What is the point of the vertex of the supply equation? (c). How many solutions are there to the supply equation ? How do you know? (d). Find the equilibrium price (Hint: The equilibrium price is the price for which supply equals demand). Do not use graphing calculator to solve equations. Use the quadratic formula method and show your work. 1...
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This note was uploaded on 11/01/2011 for the course MAT 117 taught by Professor Al-kofahi during the Spring '09 term at University of Phoenix.
- Spring '09