This is not a supply = demand problem. You are given the relationshup between supply (x) and price (P).
The supply (in units of 1000) is x = 2.
The corresponding price is
P = 2^2 + 16*2 + 40 = 76
P can also be written
P = (x + 8)^2 - 24
but is meaningful for positive x only.
That may help you when plotting a graph of P(x).
For the supply equations, where X is the quantity supplied in units of a thousand and P is the unit price in dollars, (A.)- sketch the supply curve and (B.)- determine the price at which the supplier will make 2000 units of the commodity available in the market.
P= x^2 + 16x + 40
**Please help me! I have tried to figure this out using the supply = demand way but I cannot figure it out!
I tried to factor it also, but there is no way it can. My graph did not match up with the Y-intercept either. I am so lost!
1 answer
1 answer