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:
ok so we can turn both of these into equations
Bob: 112.96 divided by 138=0.81855072463
so about 82 cents per mile
Carl: 142.78 divided by 209=0.68315789473
so about 68 cents per mile
so ya i am a little confused but heres what i got
The answer would be 43.7 because 430 divided by 10 is 43 and the extra 7 would be .7
The answer is definitely 7xf
1/3 and 5 because 3/1 is three and 1/3 is the opposite while 1/5 is 5/1 which is 5.
