MATH 133 Unit 1 - DB - Linear Equations and Inequalities

Mar 29th, 2015
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MATH 133 Unit 1 - DB - Linear Equations and Inequalities

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1.2. Table A: (5, 1250)Table B: (14, 500)3. Slope: m= (500-1250)/(14-5) m= -83.3334. Q Intercept: quantity demanded when price is 0q2= m*p2 + b500= (-83.333*14) + bb=1666.662 items demanded5. Demand Equationq= -83.333*p + 1666.6626.Quantity Demanded at $10 Priceq=-83.333*p + 1666.662q= -83.333*10 + 1666.662q=833.3327. Price for which quantity demanded is less than 20q< 20so-83.333*p+1666.662 < 2083.333*p > 1646.662p > 19.76 For any price greater than $19.76, quantity demanded will be less than 20 items.8. Quantity Supplied at $10q= 100*p + 80q= 100*10 + 80q= 1

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