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Applied Calculus for the Manageria...

10th Edition
Soo T. Tan
ISBN: 9781285464640

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Section
BuyFindarrow_forward

Applied Calculus for the Manageria...

10th Edition
Soo T. Tan
ISBN: 9781285464640
Textbook Problem

In Exercises 1-6, find the points of intersection of the graphs of the functions. Express your answer accurate to four decimal places.

7. Market Equilibrium for Wall Clocks The monthly demand and supply functions for a certain brand of wall clock are given by

p = −0.2x2 − 1.2x + 50

p = 0.1x2 + 3.2x + 25

respectively, where p is measured in dollars and v is measured in units of a hundred.

  1. a. Plot the graphs of both functions in an appropriate viewing window.
  2. b. Find the equilibrium quantity and price.

(a)

To determine

To plot: The graph of given functions using graphing calculator.

Explanation

The first function is given as p=0.2x21.2x+50 .

The second function is given as p=0.1x2+3.2x+25 .

To plot the graph of given functions follow the steps below.

First press “ON” button on graphical calculator and press Y= key.

Enter the right side of equation p=0.2x21.2x+50 after the symbol Y1 .

Enter keystrokes ()0.2Xx21.2X+50 .

Press ENTER key and enter right hand side of equation p=0.1x2+3.2x+25 after the symbol Y2

(b)

To determine

To find: The equilibrium quantity and price.

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