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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 =

  • one year ago
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  1. rukh
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    anyone??

    • one year ago
  2. slaaibak
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    \[P = {-14 \over 17}x^2 + 42\] Clue: demand curves are usually downward sloping. Supple curves are usually upward sloping.

    • one year ago
  3. rukh
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    so demand is negative...what will max demand be?

    • one year ago
  4. slaaibak
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    Max demand would be when the price is zero. Maximum price would be when demand = 0.

    • one year ago
  5. rukh
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    so how do i find?

    • one year ago
  6. slaaibak
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    To find max price, set x=0 to find max quantity, set p = 0

    • one year ago
  7. rukh
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    Maximum demand = 7.14

    • one year ago
  8. rukh
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    p is 42

    • one year ago
  9. rukh
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    thanks

    • one year ago
  10. slaaibak
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    yep

    • one year ago
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