Wei has $150.00 to make a garland using 60-cent balloons. He wants to purchase 100 blue balloons and some number of white balloo
2 answers:
Answer:
Wei can purchase 300 balloons.
The model used for the problem is .
Step-by-step explanation:
Let the number of white balloons = x
The cost of blue balloons and white balloons are 60 cent = $0.6 and 30 cents = $0.3 respectively.
Wei purchased 100 blue balloons and have $150 to buy both balloons.
So, we get the relation,
i.e.
i.e.
i.e.
Thus, Wei can purchase 300 balloons.
So, the model used for the problem is .
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<h3>What do you mean by market equilibrium?</h3>A market is said to have reached equilibrium price when the supply of goods matches demand.
The equilibrium price is the only price where the plans of consumers and the plans of producers agree, where the amount consumers want to buy of the product, quantity demanded, is equal to the amount producers want to sell, quantity supplied. This common quantity is called the equilibrium quantity.
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Explanation of graph: The demand curve, D, and the supply curve, S, intersect at the equilibrium point E, with an equilibrium price of 1.4 dollars and an equilibrium quantity of 600.
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At a price below equilibrium, such as 1.2 dollars, quantity demanded exceeds quantity supplied, so there is excess demand.
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