Question: A certain product has supply and demand functions given by p= 40q+400 and p=9400 - 50q, respectively. (a) If the price p is $1400,

A certain product has supply and demand functions given by p= 40q+400 and p=9400 - 50q, respectively. (a) If the price p is $1400, how many units q are supplied and how many are demanded? (b) What price gives market equilibrium, and how many units are demanded and supplied at this price? (a) When the price p is $1400, there are (Simplify your answer.) (b) The market equilibrium price is $ (Simplify your answer.) units supplied and and units are supplied and demanded. TREUTE units demanded. HIE A manufacturer of household items has total revenue given by the function R= 14.5x and has total cost given by C=12x + 300, where x is the number of items produced and sold. Use graphical methods to find the number of units at which the manufacturer will break even for the product. The number of units that gives break even for the product is (Simplify your answer.) SETZE

Step by Step Solution

★★★★★

3.46 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

SOLUTION a To find the quantity supplied and demanded when the price is 1400 well equate the supply ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

1. (a) How many units q are demanded when the price p is $200? (b) How many units q are supplied when the price p is $200? (c) Will there be a market surplus or shortage when the price p is $200? The...

A certain product has supply and demand functions p = 4q + 5 and p = -2q + 81, respectively. (a) If the price is $53, how many units are supplied and how many are demanded? (b) Does this give a...

1. As the price of a commodity increases, what happens to demand? 2. As the price of a commodity increases, what happens to supply? 3. (a) How many units q are demanded when the price p is $100? (b)...

Please provide one page for each section with diagrams. 1) What market and policy failures are causing excessive forest land use conversion to agriculture? 2. What policy options would you propose to...

MATH 1101 SUMMER 2022 DR. STINSON MW 3:30-5:50 imari brown 07/19/22 2:00 PM This quiz: 12 point(s) Quiz: Quiz 5 (Sections 2.3 and possible 2.4) Question 7 of 12 This question: 1 point(s) possible...

4). An obtuse triangle has sides 11, 11, and 19. Then, what is the smallest distance from the orthocenter to each vertex of the triangle?

A certain product has supply and demand functions given by p=50q + 200 and p =5700 -60q, respectively (a) If the price p is $1200, how many units q are supplied and how many are demanded? (b) What...

1.A certain product has supply and demand functions given by p=6q+22and p=242-5q, respectively, where p is the price in dollars and q is the quantity supplied or demanded at price p. What price gives...

14. [-/4 Points] DETAILS HARMATHAP12 1.6.040. Complete the problem by using the accompanying gure, which shows a supply function and a demand function. (Assume price is measured in dollars.) p 40 30...

1. [-/1 Points] DETAILS HARMATHAP12 1.3.005.MI. MY NOTES ASK YOUR TEACHER Find the slope m of the line passing through the given pair of points. (If an answer is undefined, enter UNDEFINED.) (24, 21)...

Does conservative accounting result in higher or lower accounting rates of return?

A catchment area of 140 km received 120 cm of rainfall in a year. At the outlet of the catchment the flow in the stream draining the catchment was found to have an average rate of 2.0 m/s for 3...

Wal * Mart Stores, Inc. In Forbes magazine's annual ranking of the richest Americans, the heirs of Sam Walton, the founder of Wal * Mart Stores, Inc., held spots five through nine in 1 9 9 3 with $ 4...

Find the area bounded by the given curve. y = 1, y = 2, x = 0, x = 9-y2 y y =2 y =1

You are one of nine partners of MobileWorks, a partnership organized to manufacture and sell mobile networking devices. You receive an email from a start-up competitor, NetraNet, who is interested in...

Respond to each requirement independently. a. Describe two decision-making contexts, one in which unit-level materials costs are avoidable, and the other in which they are unavoidable. b. Describe...

12 4 - x2 x2 + 6x + 8 Consider the rational function R(x) { R(x) = [ (4 - x^2) / (x^2 + 6x + 8) ] } a) Limit Definition of Continuity Apply the Limit Definition of Continuity to verify R(x) is...

On July 20, Mollie Rose began a new business called MR Printing, which provides typing, duplicating, and printing services. The following six transactions were completed by the business during July....

built a toy box for his children's wooden blocks. a. If the inside dimensions of the box are 18 inches by 12 inches 6 inches, what is the maximum number of 2-inch wooden blocks that will fit in the...

An underdeveloped country has an agricultural industry and a manufacturing industry, with technology matrix A. (a) Surpluses of 8 units of agricultural products and 620 units of manufactured products...

Suppose a professor counts the final exam as being equal to each of the other tests in her course, and she will also change the lowest test score to match the final exam score if the final exam score...

1. In a certain community, 10% of the population is Jewish. A study shows that of 7 social service agencies, 4 have board presidents who are Jewish. Find the probability that this could happen by...

Assume that you are an accountant at ABC Corporation, where you question the companys accounting practices. What legal and managerial changes would you suggest to prevent the use of accounting tricks...

Suppose your firm has decided to build a 10-story office building and, just as Sears leased the Sears Tower in Chicago, your firm has decided to contract a professional lessor to build the building...

Diagrammatically represent an economy in (a) an inflationary gap (b) a recessionary gap (c) long-run equilibrium.