Let the supply and demand functions for bottles of wine be given by p S(x)= 0.35x where p is the price in dollars and xis the bottles of wine (in thousands) p D(x) 56-0.05x a) Determine the equilibrium quantity b) Determine the equilibrium price

Let the supply and demand functions for bottles of wine be given by p S(x)= 0.35x where p is the price in dollars and xis the bottles of wine (in thousands) p D(x) 56-0.05x a) Determine the equilibrium quantity b) Determine the equilibrium price

Name: Let the supply and demand functions for bottles of wine be given byp
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Description: Let the supply and demand functions for bottles of wine be given byp S(x)= 0.35xwhere p is the price in dollars and xis the bottles of wine (in thousands)p D(x) 56-0.05xa) Determine the equilibrium quantityb) Determine the equilibrium price

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter3: Functions

Section3.2: Domain And Range

Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...

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