Determining applications of linear equations

Reference no: EM13124637

Supply and demand at $1.40 per bushel, the daily supply for oats is 850 bushels, and the daily demand is 580 bushels. When the price falls to $1.20 per bushel, the daily supply decreases to 350 bushels and the daily demand increases to 980 bushels. Assume that the supply and demand equations are linear.

Find the supply equation, find the demand equation and find the equilibrium price and quantity.

Reference no: EM13124637

Questions Cloud

Is score of thirty-four out of eighty-eight unusual : Is it likely that you will answer at least forty-four questions correctly on the test? Explain. John randomly guesses to answer each question. Is his score of thirty-four out of eighty-eight unusual? Explain

Solving alzebric linear equations : For a student club fund-raiser, the number of $2.00 raffle tickets printed was three times the number of $5.00 raffle tickets. If all of the tickets are sold, receipts from the $5.00 tickets will be $50.00 less than those from the $2.00 tickets.

What volume of a solution naoh is required : The density of a 50% solution of NaOH is 1.525 g/mL. What volume of a solution that is 50% by weight NaOH is required to make 1 Liter of 0.15M NaOH solution.

Hypothesis that mean number of customers waiting is greater : The hypothesis is that the average number of customers served per hour is 24 or less against the alternative hypothesis that the mean number of customers waiting is greater than 24.

Determining applications of linear equations : Supply and demand at $1.40 per bushel, the daily supply for oats is 850 bushels, and the daily demand is 580 bushels. When the price falls to $1.20 per bushel, the daily supply decreases to 350 bushels and the daily demand increases to 980 bushels..

Problem related to marginal tax rate : Julio, age 50, is a U.S. citizen who has a 28% marginal tax rate. He has operated the A&B Automotive Parts Company for a number of years as a C corporation.

How you would play the game : Magine you're teaching in an empty classroom. There are only four walls, your students and yourself (there is no white/blackboard either).

Find confidence interval for the true proportion of voters : A survey of 608 adults showed that 401 of them approved of the way city government was being run. Find a 99% confidence interval for the true proportion of voters who approve the way city government is being run.

What is the nullity of the transformation of tsuba : What is the nullity of the transformation of TsubA? What is the rank of the Transformation TsubA.

User Account

All Pages