Please help me. I need help with this

Mathematics

1 answer:

Aleksandr [31]3 years ago

6 0

See the attached picture:

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The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit p

Julli [10]

Answer:

a) Demand equation : $y=-\frac{2}{25}x+725$

b) Supply equation : $y=\frac{7}{100}x+350$

C) The equilibrium quantity and the equilibrium price are 2500 and $ 525 respectively

Step-by-step explanation:

We are given that For each decrease in unit price of $20 below $485, the quantity demanded increases by 250 units.

Since decrease in unit price of $20 increase demand by 250 units

So, Slope = $\frac{-20}{250}=\frac{-2}{25}$

We are given that The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485.

Now for demand equation:

Use point slope form : $y-y_1=m(x-x_1)$

So, $y-485=\frac{-2}{25}(x-3000)\\y=-\frac{2}{25}x+725$

a)So, Demand equation : $y=-\frac{2}{25}x+725$

Now to find supply equation

We have two points (0,350) and (2500,525)

$(x_1,y_1)=(0,350)\\(x_2,y_2)=(2500,525)\\y-y_1=\frac{y_2-y_1}{x_2-x_1}(x-x_1)\\y-350=\frac{525-350}{2500-0}(x-0)\\y-350=\frac{7}{100}x\\y=\frac{7}{100}x+350$