vytdgffiedoschia
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Let one weeks supply and demand functions for gasoline be given by p=D(q)=288-5/2q and p=s(q)=3/2q, where p is the price in dollars and q is the number of 42 gallon barrels. A. Graph these equations on the same axes. B. Find the equilibrium quantity. C. Find the equilibrium price.

Verified Answer :

meerkat18
ATo make a quantity-price graph, assign any value for q and solve for p. Plot the ordered pairs and connect.

B. To determine the equilibrium quantity, equate the price for demand and supply,
                                 288 - 5/2q = 3/2q
The value of q from the equation is q = 1/72.

C. To get the equilibrium price, substitute the value of q to any of the equations,
                                  p = D(p) = 288 - 5/2(1/72) = 108

lhmarianateixeira

In this exercise we have to use the knowledge of graph construction to be able to find the values ​​of the equations then:

A) The graph is in pairs and connect

B)\(q = 1/72\)
C)\(p=108\)

So for the correct graphic assembly to occur we have:

A) The plot the ordered pairs and connect, so:

\(D(q)=288-5/2q\\S(q)=3/2q\)

B) To determine the equilibrium quantity, let's join the two known equations:

\(288 - 5/2q = 3/2q\\ q = 1/72.\)

C) To get the equilibrium price, substitute the value we have:

\(p = D(p) = 288 - 5/2(1/72) = 108\)

See moer about functions at brainly.com/question/5245372

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