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rukh

  • 2 years ago

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 =

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  1. rukh
    • 2 years ago
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    anyone??

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

  3. rukh
    • 2 years ago
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    so demand is negative...what will max demand be?

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

  5. rukh
    • 2 years ago
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    so how do i find?

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

  7. rukh
    • 2 years ago
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    Maximum demand = 7.14

  8. rukh
    • 2 years ago
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    p is 42

  9. rukh
    • 2 years ago
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    thanks

  10. slaaibak
    • 2 years ago
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    yep

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