1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
PIT_PIT [208]
3 years ago
5

A retail chain will buy 900 cordless phones if the price is $40 each and 700 if the price is $60. a wholesaler will supply 550 p

hones at $30 each and 1250 at $50 each. Assuming that the supply and demand functions are linear, find the market equilibrium point and explain what it means.
Mathematics
1 answer:
Triss [41]3 years ago
3 0

Answer:

The point of equilibrium is (40,900).

Step-by-step explanation:

It is given that the supply and demand functions are linear.

From the given information it is noticed that the demand function passing through the points (40,900) and (60,700). The supply function passing through the points (30,550) and (50,1250).

If a line passing through two points, then the equation of line is

y-y_1=\frac{y_2-y_1}{x_2-x_1}(x-x_1)

The demand function is

y-900=\frac{700-900}{60-40}(x-40)

y-900=-10(x-40)

y-900=-10x+400

y=-10x+1300                    .... (1)

The demand function is y=-10x+1300.

The supply function is

y-550=\frac{1250-550}{50-30}(x-30)

y-550=35(x-30)

y-550=35x-1050

y=35x-500                  .... (2)

The supply function is y=35x-500.

Equilibrium is the point where the demand and supply are equal.

On solving (1) and (2), we get

x=40

y=900

Therefore the point of equilibrium is (40,900). It means the retailer can buy 900 phones for $40 each and the wholesaler can sale 900 phones for $40.

You might be interested in
The teacher recommends that students read for 20 minutes each
OleMash [197]
They wollll complete 3
7 0
3 years ago
Please help asap! Will give brainliest!
olga nikolaevna [1]

Answer:

c

Step-by-step explanation:

when 2 lines are perpendicular, the product of their gradients will give you -1 thus the gradient of the equation is

2 x m = -1

m = -1/2

and since it will pass thru point (-3, 7)

thus it will results in (x+3) and (y-7)

5 0
3 years ago
Determine the true statements about trend lines in scatterplots. Check all that apply.
goldfiish [28.3K]

Answer:

give that 13.3cm is 15% of a certain length, what is the complete length

8 0
2 years ago
Simplify the following expressions
Mashcka [7]
In division, we subtract the powers so, 
20u^3 / 5 u^2 = 4u 

in multiply we add the power 
20u^3 * 5 u^2 = 100 u^5 

4 0
3 years ago
What is the slope of the line shown above?<br>​
wariber [46]

Answer:

1/3x

Step-by-step explanation:

To find the slope, you would choose two points and do rise/run

You go one unit up, then 3 units to the right

8 0
2 years ago
Read 2 more answers
Other questions:
  • WILL GIVE THE BRAINLEST <br>PLZ HELP WITH 8 AND 10<br>SHOW WORK​
    9·1 answer
  • Eleven members of the Middle School Math Club each paid the same amount for a guest speaker to talk about problem solving at the
    14·1 answer
  • Please answer this question..........
    14·1 answer
  • What percent of 260 is 65
    11·1 answer
  • What is the solution of -6x+15=-3
    14·2 answers
  • Please help .god bless you all
    7·1 answer
  • Tim rolls a number cube labeled 1 through 6 and flips a coin. Which is the
    8·1 answer
  • What is the area of the composite figure?
    15·2 answers
  • Find the missing angle.<br><br> 66°<br> 56°<br> 76°<br> 156°
    12·1 answer
  • Need help 7 th grade math from 5 to 7
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!