Weekly Dollar Demand and Supply Functions for Tents
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The weekly dollar demand and supply functions for tents, t, are given by the following respective formulas:
D(t) = -0.1t^2 + t + 40;
S(t) = 0.1^2 + 2t + 20
a) We wish to graph D(t) and S(t) .
Answer the questions below.
b) At what price will there be demand for tents?
c) At what price will there be no supply of tents?
d) What is the breakeven point in terms of the number of tents?
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Solution Summary
In this solution we analyze given supply and demand curves for tents and determine the optimal price for the tents based on these curves.
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** Please see the attached file for the complete solution including the graph **
The weekly dollar demand and supply functions for tents, ...
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