Question

I know how to do the problem but I'm not getting the right answers. Can anyone show me how to get the right answers?

You are given a pair of equations, one representing a supply curve and the other representing a demand curve, where is the unit price for items.
-203x^2+3061.24x+81947.04-5121.69p=0
and
116.2x^2+3332.98x+23580.48-11790.24p=0
a.Domain of the supply curve?
a.Domain of the demand curve?
b. Determine the market equilibrium. x=? p=?
c. Determine the revenue function.
d. Determine the revenue at market equilibrium.

Answer 1

again remember that x >= 0 and p >= 0

Answer 2

so we're focusing on the quadrant 1

Answer 3

so you have to find the x and y intercepts to find the boundaries of the domain

Answer 4

yes. so supply is 0<x<infinity. but demand is from 0<x<??

Answer 5

the supply curve is

-203x^2+3061.24x+81947.04-5121.69p=0

right?

Answer 6

isn't that demand because it has a decreasing slope?

Answer 7

well it should say on your worksheet

Answer 8

tbh I don't know which equation is which

it should say it though

Answer 9

it doesn't. i have to figure that out on my own.

Answer 10

well I noticed that it mentions supply before demand

so that's why I was thinking -203x^2+3061.24x+81947.04-5121.69p=0 is supply

Answer 11

well i don't think it's supply thought because of the slope.

Answer 12

hmm I'm not sure then

Answer 13

so then i can't go on with the problem?

Answer 14

well I can't be sure of which is which, but we can still find the domain of each

Answer 15

okay!!

Answer 16

for both equations, just focus on the first quadrant (a graphing calculator will be very helpful)

Answer 17

to find the x-intercept, plug in p = 0 and solve for x

Answer 18

okay! i got that. now for the next part. setting them equal to each other... i tried doing that but I got a negative answer.

Answer 19

what did you get

Answer 20

supply is 0<x<infinity and demand is 0<=x<=29