Problem

The supply and demand functions for the yogurt shop in Exercise 78 arewhere p is the price...

The supply and demand functions for the yogurt shop in Exercise 78 are

where p is the price in dollars for q hundred units of yogurt.

(a) Graph both functions on the same axes, and from the graph, estimate the equilibrium point.


(b) Give the q −intervals where supply exceeds demand.


(c) Give the q −intervals where demand exceeds supply.

Exercise

The cost and revenue functions (in dollars) for a frozen−yogurt shop are given by

where x is measured in hundreds of units.

(a) Graph C (x) and R (x) on the same set of axes.


(b) What is the break−even point for this shop?


(c) If the profit function is given by P(x), does P(1) represent a profit or a loss?


(d) Does P (4) represent a profit or a loss?

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