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rukh
Determine if the given equation is a supply or demand equation. 17 p + 14 x^2 = 714 A. Demand equation B. Supply equation For supply equations, find the minimum price for which there will be any supply. For demand equations, find the maximum price that can be charged and the maximum demand. (Type 0 if it does not apply.(Even though 0 might not be the answer.)) Minimum price = Maximum demand = Maximum price =
\[P = {-14 \over 17}x^2 + 42\] Clue: demand curves are usually downward sloping. Supple curves are usually upward sloping.
so demand is negative...what will max demand be?
Max demand would be when the price is zero. Maximum price would be when demand = 0.
To find max price, set x=0 to find max quantity, set p = 0