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rukh Group Title

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 =

  • 2 years ago
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  1. rukh Group Title
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    anyone??

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

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

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

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

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

    • 2 years ago
  7. rukh Group Title
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    Maximum demand = 7.14

    • 2 years ago
  8. rukh Group Title
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    p is 42

    • 2 years ago
  9. rukh Group Title
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    thanks

    • 2 years ago
  10. slaaibak Group Title
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    yep

    • 2 years ago
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