Wednesday
July 23, 2014

Homework Help: Math

Posted by Shawna on Tuesday, March 18, 2014 at 9:46am.

The supply and demand for a business manufacturing toy cars are given by these two equations, where y is the price in dollars per item and x is the number of toy cars sold in thousands.
Supply: y = x^2 − x + 0.5
Demand: y = x^2 − 1.6
The two graphs intersect at the point (2.1, 2.8), which is the market equilibrium for the business. Which statement is true?
A) The market will be in equilibrium when the price of each toy car is $2.10.
B) The market will be in equilibrium when 2,800 toy cars are sold.
C) The market will be in equilibrium when 2,100 toy cars are sold.
D) The market will be in equilibrium when 2,450 toy cars are sold and the price of each toy car is $2.10.
E) The market will be in equilibrium when 7.37 toy cars are sold and the price of each toy car is $2.12.

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