Suppose that the market research found the following relationships for Apple's iPhone 14 in 2022 Supply equation: 2q-1/4p=100, where q (supply in millions) is the number of iPhone 14s that apple would produce if they could sell them for $p each demand equation: 15q+p=4200, where q (demand in millions) is the number of iPhone 14s consumers would buy if they were sold for $p each Find the equhibrium price p and supply demand using gauss-Jordan elimination
Suppose that the market research found the following relationships for Apple's iPhone 14 in 2022 Supply equation: 2q-1/4p=100, where q (supply in millions) is the number of iPhone 14s that apple would produce if they could sell them for $p each demand equation: 15q+p=4200, where q (demand in millions) is the number of iPhone 14s consumers would buy if they were sold for $p each Find the equhibrium price p and supply demand using gauss-Jordan elimination
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.7: Direct And Inverse Variation
Problem 36PS
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Suppose that the market research found the following relationships for Apple's iPhone 14 in 2022
Supply equation: 2q-1/4p=100, where q (supply in millions) is the number of iPhone 14s that apple would produce if they could sell them for $p each
demand equation: 15q+p=4200, where q (demand in millions) is the number of iPhone 14s consumers would buy if they were sold for $p each
Find the equhibrium price p and supply demand using gauss-Jordan elimination
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