# Write your final answers and solutions in the spaces after each question. =))

FratBro23
Category:
Other
Price: \$5 USD

Question description

1. Given the demand function D(x) = 4850 -5x,
1. What is the highest price a consumer would pay for the commodity?

1. How many units would be demanded when the commodity is given away for free?

1. 1,250 units of a product can be made available if the unit price is Php54, 000. If for each Php3, 000 increase in the price, 600 more units become available. Set up a supply function assuming that it is linear.

1. A manufacturer sells 850 units of a commodity when the unit price is Php1,560. For every Php100 reduction in the price, he is able to sell 300 more items. Find the demand function assuming that it is linear.

1. If the supply function for a particular product is ys – 3x – 112 = 0, find the lowest price at which the product would be supplied.

1. The supply and demand functions for a particular food product are S(x) = 0.275x + 316.8 and

D(x) = 1,340 – 1.25x, respectively. Determine the market equilibrium price and quantity.

(Top Tutor) Daniel C.
(997)
School: University of Virginia
Studypool has helped 1,244,100 students

1823 tutors are online

### Related Other questions

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors