Let one week's supply and demand functions for gasoline be given by p= D(q)-294-39 and p = S(a)= a, where p is the price in dollars and q is the number of 42-gallon barrels (a) Graph these equations on the same axes (b) Find the equilibrium quantity (c) Find the equilibrium price (m) (a) Choose the graph of D(a) and S(q) OA OB. OD. Q 400 Q 400-1 a Q a AP INZ Ha Mily 800 (b) The equilibrium quantity is barrels. (c) The equilibrium price is $ OC. 400 400 G

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.3: Lines
Problem 92E
icon
Related questions
Question
Answer all three parts for a thumbs up #10
Let one week's supply and demand functions for gasoline be given by p= D(q) = 294-39 and p= S(q) =q, where p is the price in dollars and q is the number of 42-gallon barrels (a) Graph these equations on the same axes. (b) Find the equilibrium quantity (c) Find the equilibrium price
(a) Choose the graph of D(q) and S(q).
OA
OB.
OC.
OD
a
G
abo
(b) The equilibrium quantity is barrels..
(c) The equilibrium price is $
Transcribed Image Text:Let one week's supply and demand functions for gasoline be given by p= D(q) = 294-39 and p= S(q) =q, where p is the price in dollars and q is the number of 42-gallon barrels (a) Graph these equations on the same axes. (b) Find the equilibrium quantity (c) Find the equilibrium price (a) Choose the graph of D(q) and S(q). OA OB. OC. OD a G abo (b) The equilibrium quantity is barrels.. (c) The equilibrium price is $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill