Question

For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price.

p = −0.3x + 9 and p = 0.25x + 3.5
equilibrium quantity    

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Math
Advanced Math

Related Advanced Math Q&A

Find answers to questions asked by students like you.

Q: QUESTION 3 Determine the solution of the recurrence relations F,= 20Fn-1-25Fn-2 where Fo = 4 and F1 ...

A: Given, a linear homogenous recurrence relation. First, find its characteristic equation. Also, we ha...

Q: Let T be a linear operator on a finite-dimensional vector space V. Prove that T is diagonalizable if...

A: If T is a diagonalizable linear operator on an n-dimensional vector space V, then V has a basis cons...

Q: Let T be a linear operator on a finite-dimensional vector space V, and let W1,W2, . . . ,Wk be T-inv...

A: Given that T be a linear operator on a finite-dimensional vector space,and let W1, W2, W3, … Wk be T...

Q: ADMATH 8. 2.) cunvergent n. divergent or n=0

A: The given series is

Q: Prove the statement; a – c is a divisor of ab + cd=→a – c is a divisor of ad + bc.

A: Click to see the answer

Q: Let U be a linear operator on a finite-dimensional inner product space V. If ||U(x)||= ||x||for all ...

A: Click to see the answer

Q: Label the following statements as true or false. Assume that the underlying inner product spaces are...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: In the following sentence, is the word or used in its inclusive or exclusive sense? A team wins the ...

A: Given statement is, “A team wins the playoffs if it wins two games in a row or a total of three game...

Q: Solve the following initial value problem: (dy/dt)+(0.2)ty=4t with y(0)=9. (Find y as a function of ...

A: First simplify the given differential equation and write in the form of standard homogenous differen...

Q: Please find the question attached.

A: Click to see the answer

Q: For each of the sets of data that follows, use the least squares approximation to find the best fits...

A: Click to see the answer

Q: 1. Foreach of the following sequences, write a formula for the generalterm. Then use the formula to ...

A: We need to write the general term of the following sequences.

Q: Please help me understand the following question and please explain the steps. Picture is below

A: Click to see the answer

Q: i have included a picture of the question i need help understanding.thank you in advance. please exp...

A: Let H and K are two subgroups of the group G.To show

Q: Let β be a basis for a finite-dimensional inner product space. (a) Prove that if <x, z>= 0 for...

A: Let β be a basis for a finite-dimensional inner product space.

Q: A house costs $150,000. The terms of the sale are 10% down payment and the remainder to be paid in m...

A: According to the question given,P = $135,000r = 4.25% = 0.0425n = 10 yearst = 12The total compounded...

Q: Construct truth tables for the statement forms

A: Click to see the answer

Q: Exercise 4: (Hard) Give an example of a function f with domain [0, 1] with infinitely many points of...

A: Consider the Dirichlet’s function,

Q: which satisties Function M se calculus methods to find a =x; y'l0)=1 ylo)= =/ %3D A) x+x -1 B) -- 3....

A: Click to see the answer

Q: Let A be an m × n matrix and u a vector in Rn. Suppose that Au = 0 (where 0 is the zero vector in Rm...

A: Click to see the answer

Q: Rewrite the statements in if-then form. Payment will be made on fifth unless a new hearing is grante...

A: The given statement is “payment will be made on fifth unless a new hearing is granted”.

Q: Geneva wants to save $12,000 to buy a new car. She just received an $10,000 bonus and plans toinvest...

A: Click to see the answer

Q: 3ox'y 0 has difruential equation d ftaential equation mily of solu tions given by hos a ane painmete...

A: Given differential equation is

Q: Show that the two drawings represent the same graph by labeling the vertices and edges of the right-...

A: Consider the two given graph.Let imagine that the edges of the given graph are strings and the verti...

Q: Let p be “I will go to France” and let q be “I will learn French”. Give a simple verbal sentence whi...

A: Given thatp be “I will go to France”q be “I will learn French”

Q: Use the set-roster notation to indicate the elements in each of the following sets. a. S= {nE Z |n =...

A: (a) Given:

Q: The graphs of two functions f and g are shown below. 3- 4 -B -2 -3 a. Write a function formula for g...

A: Observe from the graph thatf(x) is the graph of g(x) inverted about x-axisg(x) is the graph of f(x) ...

Q: Let A = {c, d,f, g}, B = {f, j}, and C = {d, g}. Answer each of the following questions. Give reason...

A: Click to see the answer

Q: Determine whether the statement forms are logically equivalent. In each case, construct a truth tabl...

A: Given statement is,

Q: Question in attachement.

A: Boolean algebra has various properties including identity law, complement law, involution law and mu...

Q: In each  represent the common form of each argument using letters to stand for component sentences, ...

A: Click to see the answer

Q: Express the repeating decimal, 0.529529529... as a fraction in lowest terms.

A: It is required to express the repeating decimal as a fraction in lowest form.The given repeating dec...

Q: Definitions. A linear operator T on a vector space V is called nilpotent if Tp= T0 for some positive...

A: Click to see the answer

Q: For each sequence given below, find a closed formula an for the nth term of the sequence (assume the ...

A: Hello, thanks for the question. Since we only answer up to 3 sub-parts, we’ll answer the first 3. Pl...

Q: Define a relation S from R to R as follows: For every (x, y) ER X R, (x, y) E S means that x> y. a. ...

A: (a)It is given that the relation S from R to R is defined as for every (x, y) ϵ R × R, (x, y) ϵ S me...

Q: QUESTION 7 Find the sum. 6 + 12 + 18 + . + 624 32136 33075 32448 O 32760

A: Recall the facts.

Q: Given any statement form, is it possible to find a logically equivalent form that uses only ~ and ^?...

A: This can be done as follows:

Q: Your project will have the following inflows and outflows:   Year Outflows Inflows 0 ...

A: Click to see the answer

Q: Given: p: x >= 6; q: x < -5. Translate the following into Boolean Expressions and simplify if ...

A: Click to see the answer

Q: Let W1,W2,K1,K2, . . . ,Kp,M1,M2, . . . ,Mq be subspaces of a vector space V such that W1 = K1⊕K2⊕· ...

A: Click to see the answer

Q: Note that “a sufficient condition for s is r” means r is a sufficient condition for s and that “a ne...

A: The given statement is : “A necessary condition for this computer program to be correct is that it n...

Q: Write in words how to read each of the following out loud. a. {xER* |0 1} c. {nEZ n is a factor of 6...

A: Click to see the answer

Q: In 1 and 2, graphs are represented by drawings. Define each graph formally by specifying its vertex ...

A: 1.Note that, a graph consists of two finite sets: a finite, a nonempty set of vertices and a finite ...

Q: Find (3)BA + (4)AC, if possible. - 1 -2 0 -2 - 1 - 1 3 2 0 2 3 -2 3 Select the correct choice below ...

A: The matrix multiplication is found by adding the product of elements of each row of A by correspondi...

Q: Answer: y = e/(xlnx)

A: Given initial value problem is,

Q: Determine what number comes next in the sequence? Justify your answer. NOTE: There are multiple righ...

A: To determine the next term, observe the series carefully and found out the common thing which is rep...

Q: 4. Write the following using summation (E) or product (II) notation (a) (13 – 1) + (23 – 1) + (33 – ...

A: (a) Given:

Q: 5. Consider the circuit below: A- C- a. Write the Boolean expression modeled by the circuit. Above. ...

A: Not gate is represented by A’.AND gate is represented by AB.NAND gate is represented by by (AB)’XOR ...

Q: Use Theorem 2.1.1 to verify the logical equivalences. Supply a reason for each step.

A: Given: