Mrs. Fields' bags of cookies are a valuable product on the economic market. Supply for her cookies is modeled by the linear equation below: q = 6.8p – 54.4 (for p > $8.00 ) q is the millions of bags of cookies supplied by retailers when they are sold at price p. The demand for Mrs. Fields' bags of cookies is still: q = - .4p +7.2p – 25.6 a) If Mrs. Fields' sells her cookies for $9.50 a bag, the market will be at: surplus (Type surplus, shortage, or equilibrium). b) If Mrs. Fields' sells her cookies for $8.50 a bag, the market will be at: surplus (Type surplus, shortage, or equilibrium).
Mrs. Fields' bags of cookies are a valuable product on the economic market. Supply for her cookies is modeled by the linear equation below: q = 6.8p – 54.4 (for p > $8.00 ) q is the millions of bags of cookies supplied by retailers when they are sold at price p. The demand for Mrs. Fields' bags of cookies is still: q = - .4p +7.2p – 25.6 a) If Mrs. Fields' sells her cookies for $9.50 a bag, the market will be at: surplus (Type surplus, shortage, or equilibrium). b) If Mrs. Fields' sells her cookies for $8.50 a bag, the market will be at: surplus (Type surplus, shortage, or equilibrium).
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.2: Linear Equations In One Variable
Problem 6ECP: The number y (in thousands) of male participants in high school lacrosse in the United States from...
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Transcribed Image Text:Mrs. Fields' bags of cookies are a valuable product on the economic market. Supply for her cookies is modeled by the linear equation below:
q = 6.8p – 54.4
( for p > $8.00)
q is the millions of bags of cookies supplied by retailers when they are sold at price p. The demand for Mrs. Fields' bags of cookies is still:
q = - .4p2 +7.2p – 25.6
a) If Mrs. Fields' sells her cookies for $9.50 a bag, the market will be at: surplus
(Type surplus, shortage, or equilibrium).
b) If Mrs. Fields' sells her cookies for $8.50 a bag, the market will be at: surplus
(Type surplus, shortage, or equilibrium).
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