mand is 18,200 rolls. When the demand increases to 26,200 rolls, the supply is 20,000 and the price is $1.24 per roll. Let x be the quantity in thousands of rolls. The table below gives the price-supply and price-demand equations.
Price Equations for Toilet Paper
Price-Supply P = -0.04x + 2.04
Price-Demand P = 0.025x + 1.495
Find the supply at a price of $2 per roll.
Find the demand at a price of $2 per roll.
Use the substitution method to find the equilibrium quantity. Round x to the nearest tenth first and then convert to thousands. Include the units in your answer.
What is the equilibrium price? Write the answer in dollars and cents, rounding to the nearest cent.
producer's surplus if the equilibrium price of a unit
.A retailer anticipates selling
units of its product at a uniform rate over the next year. Each time the retailer places an order for
units, it is charged a flat fee of
. Carrying costs are
per unit per year. How many times should the retailer reorder each year and what should be the lot size to minimize inventory costs? What is the minimum inventory cost?
For a particular commodity, the demand function is
.A hotel rents
rooms at a rate of
per day. For each
increase in the rate, three fewer rooms are rented. Find the room rate that maximizes daily revenue.
tal-revenue and total-cost functions, find the total profit, the maximum value of the total profit, and the value of x at which it occurs.
Upper R left parenthesis x right parenthesis equals 1300 x minus x squared, Upper C left parenthesis x right parenthesis equals 3000 plus 30 x
The total profit, P(x)equals
negative x squared plus 1270 x minus 3000.
(Simplify your answer. Do not factor.)