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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