HIPlease explain how do you simplify the square root part or the S(x).Thanks Mahboob The supply curve S(x) and the demand curve D(x) for choclates are given by:V4x +16S(x) =; D(x) = 8 - x for 0 sxs 8X: Quantity in units, S and D price per unitSketch the graphs of the two functions in the given grid below and mark both axes and the twoa)functions correctly.b) Calculate the coordinates of the market equilibrium point and mark it in the graph.What is the revenue of the producer in the equilibrium?d) Assume that the producers decide to sell the product for a price of 2 per unit without changingthe supply curve. What is the corresponding demand and supply for this price?e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain whatthe producers have to do.

At the market equilibrium the market demand is equal to the market supply. Which means that:…

Answered: explain how do you simplify the square…

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explain how do you simplify the square root part or the S(x).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please explain how do you simplify the square root part or the S(x).

Thanks

Mahboob

The supply curve S(x) and the demand curve D(x) for choclates are given by:
V4x +16
S(x) =
; D(x) = 8 - x for 0 sxs 8
X: Quantity in units, S and D price per unit
Sketch the graphs of the two functions in the given grid below and mark both axes and the two
a)
functions correctly.
b) Calculate the coordinates of the market equilibrium point and mark it in the graph.
What is the revenue of the producer in the equilibrium?
d) Assume that the producers decide to sell the product for a price of 2 per unit without changing
the supply curve. What is the corresponding demand and supply for this price?
e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what
the producers have to do.

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