The equilibrium point for the pair of demand and supply function is 100
We have been two linear function, one is linear supply function and other is linear demand function.
In general , linear supply function is given as:
Qs = x + yP
Where , Qs = quantity supplied
x = quantity
P = price
And linear demand function is given is :
Qd = x + yP
Where , Qs = quantity supplied
x = quantity
P = price
According to the question,
Linear supply function is q = 300 + 5x
And linear demand function is q = 4800 – 40x
To find the equilibrium point we will put two quantities equal, that is,
Qs = Qd
300 + 5x = 4800 – 40x
5x + 40x = 4800 – 300
45x = 4500
x = 100
Hence the equilibrium point is 100
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Answer:
Mickey
Step-by-step explanation:
Mickey is correct because if you look at the number 45.7654 whenever you round to the nearest thousandth it'll be 45.765
5 is the thousandth place so look to the right. If the number to the right is greater than 5 it'll round to 47.766 but since it's a four ti rounds down.
False
Statistics data can be categorical too
G = the cost of one pack of gum
LeBron : 6 - 4g
James : 5 - 2g
what they both have after buying gum..
6 - 4g + 5 - 2g = 11 - 6g
Anything 5 and up, because when you multiply the by 15, they equal more than 65, making the inequality true.
