Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN: 9780079039897
Author: Carter
Publisher: McGraw Hill
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Question
7 The bookstore sells 9 keychains in a day if the unit price is $2. If the bookstore increases the price by a dollar, it sells one fewer keychain daily. Suppose the demand function is linear. The supply function for keychains is q(p) 2vp+4 where p is the unit price. Find the price at which there is no shortage nor surplus 8) The bookstore decideds to sell bobbleheads, and each bobblehead costs the bookstore $2 and there is no fixed cost. Suppose the cost function is linear. Suppose the demand function for bobbleheads is qp) p+14p + 24 where p is the unit price. Find the price at which the bookstore breaks even.
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Transcribed Image Text:7 The bookstore sells 9 keychains in a day if the unit price is $2. If the bookstore increases the price by a dollar, it sells one fewer keychain daily. Suppose the demand function is linear. The supply function for keychains is q(p) 2vp+4 where p is the unit price. Find the price at which there is no shortage nor surplus 8) The bookstore decideds to sell bobbleheads, and each bobblehead costs the bookstore $2 and there is no fixed cost. Suppose the cost function is linear. Suppose the demand function for bobbleheads is qp) p+14p + 24 where p is the unit price. Find the price at which the bookstore breaks even.
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