Question: Help please :( 1. Given the following table of values for demand. With x being demand in thousands and p being the price in dollars.
1. Given the following table of values for demand. With x being demand in thousands and p being the price in dollars. Example when demand was 1000 calcul tors the price v as $55 would go into the table as the first row. a. Use regression to find an exponential demand function. b. Given a Supply function: p=8ln(x+4), p: price in dollars x : Thousands of Scientific Calculators Graph both functions the one in a and the one in b use Xmin=0Ymin=0Xmax=40Ymax=60 c. Find and interpret the equilibrium point using your calculator or computer software. Use correct units in your sentence. d. Find the supply and demand when the price is $30 using algebra. e. Explain what will happen to the price and why
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
