Question

I have two equations which one is the supply function and which one is the demand function? they are: p=500-0.8q/10 p=0.002q^2+0.6q/10+100 please

Answer 1

1.If demand increases and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price.
2.If demand decreases and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.
3.If demand remains unchanged and supply increases, a surplus occurs, leading to a lower equilibrium price.
4.If demand remains unchanged and supply decreases, a shortage occurs, leading to a higher equilibrium price.

Answer 2

^^^^^ Remember that!

Answer 3

Thank you but if you are looking at both equations can you tell which one is demand and which one is supply?

Answer 4

Im not entirely sure, if you have a data table or something that might help.

Answer 5

as q gets larger: demand falls

as q gets larger: supply rises