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ccc10  The Yaster research department established the following price-supply function for thingamabobs: q(x)= 1.63 x + 31, where x is in thousands of thingamambobs.  Find the equilibrium quantity.  Use that information to complete the following sentence: As the price of thingamabobs tends toward the equilibrium price, the supply and demand are both                       thingamabobs.  Round to the nearest thingamabob.

ccc10  The Yaster research department established the following price-supply function for thingamabobs: q(x)= 1.63 x + 31, where x is in thousands of thingamambobs.  Find the equilibrium quantity.  Use that information to complete the following sentence: As the price of thingamabobs tends toward the equilibrium price, the supply and demand are both                       thingamabobs.  Round to the nearest thingamabob.

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
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ccc10 

The Yaster research department established the following price-supply function for thingamabobs:

q(x)= 1.63 x + 31,

where x is in thousands of thingamambobs.  Find the equilibrium quantity.  Use that information to complete the following sentence:

As the price of thingamabobs tends toward the equilibrium price, the supply and demand are both

                      thingamabobs.  Round to the nearest thingamabob.

Thingamabob Sales Yaster Inc. is trying to enter the thingamabob market. The research department established the following price-demand, cost, and revenue functions: Price- p(x) = 57 1.14x demand function Cost |C(x) = 215 + 11x function Revenue |R(x) = xp(x) = x(57 — 1.14x) function where x is in thousands of thingamabobs and C(x) and R(x) are in thousands of dollars. The price p(x) is the price in dollars of one thingamabob when the demand is a thousand thingamabobs. All three functions have domain 1 ≤ x ≤ 50.
Transcribed Image Text:Thingamabob Sales Yaster Inc. is trying to enter the thingamabob market. The research department established the following price-demand, cost, and revenue functions: Price- p(x) = 57 1.14x demand function Cost |C(x) = 215 + 11x function Revenue |R(x) = xp(x) = x(57 — 1.14x) function where x is in thousands of thingamabobs and C(x) and R(x) are in thousands of dollars. The price p(x) is the price in dollars of one thingamabob when the demand is a thousand thingamabobs. All three functions have domain 1 ≤ x ≤ 50.
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