The table below gives the quantity of electronic sensors demanded and the quantity supplied for selected prices. (a) Find the linear equation that gives the price as a function of the quantity demanded. (b) Find the linear equation that gives the price as a function of the quantity supplied (c) Use these equations to find the market equilibrium price. O Price ($) 20 30 40 50 100 Quantity Demanded (thousands) 650 600 550 500 250 Quantity Supplied (thousands) 0 200 400 600 1600 COT (a) What is the price as a function of the quantity demanded? P- (Type an expression using q as the variable. Type your answer in slope-intercept form.) (b) What is the price as a function of the quantity supplied? pa (Type an expression using q as the variable. Type your answer in slope-tercept form.) (c) What is the market equilibrium price?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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The table below gives the quantity of electronic sensors demanded and the quantity
supplied for selected prices.
(a) Find the linear equation that gives the price as a function of the quantity demanded.
(b) Find the linear equation that gives the price as a function of the quantity supplied.
(c) Use these equations to find the market equilibrium price.
Price
($)
20
CRAWNG
30
40
50
100
Quantity Demanded (thousands)
650
600
550
500
250
Quantity
Supplied (thousands)
0
200
400
600
1600
COTTES
(a) What is the price as a function of the quantity demanded?
P=0
(Type an expression using q as the variable. Type your answer
in slope-intercept form.)
(b) What is the price as a function of the quantity supplied?
p=
(Type an expression using q as the variable. Type your answer
in slope-tercept form.)
(c) What is the market equilibrium price?
Transcribed Image Text:The table below gives the quantity of electronic sensors demanded and the quantity supplied for selected prices. (a) Find the linear equation that gives the price as a function of the quantity demanded. (b) Find the linear equation that gives the price as a function of the quantity supplied. (c) Use these equations to find the market equilibrium price. Price ($) 20 CRAWNG 30 40 50 100 Quantity Demanded (thousands) 650 600 550 500 250 Quantity Supplied (thousands) 0 200 400 600 1600 COTTES (a) What is the price as a function of the quantity demanded? P=0 (Type an expression using q as the variable. Type your answer in slope-intercept form.) (b) What is the price as a function of the quantity supplied? p= (Type an expression using q as the variable. Type your answer in slope-tercept form.) (c) What is the market equilibrium price?
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