# The table shows both the number of a certain type of graphing calculator in demand and the number supplied at

## Question:

The table shows both the number of a certain type of graphing calculator in demand and the number supplied at certain prices.

**Demand and Supply Schedules for a Graphing Calculator (Producers will ****supply no calculators when the market price is less than $47.50.)**

Price (dollars per calculator) | Demand (million calculators) | Supply (million calculators) |
---|---|---|

60 | 35 | 10 |

90 | 31 | 32 |

120 | 15 | 50 |

150 | 5 | 80 |

180 | 4 | 100 |

210 | 3 | 120 |

**(a) **Find the function for the logistic model for demand in million calculators, where *p* is the price per calculator in dollars, with data from 60 ≤ *p* ≤ 210.(Round all numerical values to three decimal places. Use the correct input variable, *p*. Paste the unrounded equation into your Y1.)*D*(*p*) = _________million calculators

Find the function for linear model for supply in million calculators, where *p* is the price per calculator in dollars, with data from60 ≤ *p* ≤ 210. (Round all numerical values to three decimal places. Use the correct input variable, *p*. Paste the unrounded equation into your Y2.)

*p* dollars per calculator, where 60 ≤ *p* ≤ 210.**Tip: Be sure you are using the unrounded demand and supply functions for the calculations that follow. Using the rounded functions may result in incorrect answers.****(b) **At what price will market equilibrium occur? (Round your answer to two decimal places.)

$_________ per calculator

How many calculators will be supplied and demanded at this price? (Round your answer to two decimal places.)

____________million calculators**(c)** Calculate the producer surplus at market equilibrium. (Round your answer to three decimal places.)

$________million

Calculate the consumer surplus at market equilibrium. (Round your answer to three decimal places.)

$________million

Calculate the total social gain at market equilibrium. (Round your answer to three decimal places.)

$________million

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