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ACME Skateboards Inc., has paid consultants to look over last year's sales and provide them with supply and demand equations that fit their sales data. The consultants provided the equation S = 0.09x^2 - 0.45x + 3.5 for the company's supply curve where x is the price per skateboard in dollars, and S is the number of skateboards produced in thousands. The consultants also provided D = 15 - 0.5x as the demand curve where x represents the price per skateboard in dollars, and D represents the demand for their product in thousands. 1. What should the price of a skateboard be for the company to break even? (Round your answer to the nearest penny.) 2. What is the demand for ACME's skateboards if the price of a skateboard is $11.14? (Round your answer to the nearest hundred) 3. By how many skateboards will demand exceed supply if the price is set at $7.02 per skateboard? (Round your answer to the nearest hundred) 4. At what unit price will supply exceed demand by one thousand skateboards? (Round your answer to the nearest penny)

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  • Anonymous Mar 19, 2014

    round 92554 to the nearest thousand

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Hello,
Doesn't any body do their homework anymore? How are they supposed to learn anything?
Draw your graphs by hand or on a graphing calculator.
Think about the intersection points. (What does that mean when two curves intersect?)
Use the equation for the demand to obtain D for a particular x.
You can also determine by how much one function exceeds another for a particular value of the x variable (the graph is rather clear).
I assume you can solve a quadratic equation.
Use these hints to solve the problem.
Here is a graph. I even restricted it to the first quadrant so as not to mislead you into giving meaningless answers.


.ACME Skateboards Inc., has paid - e89465e.jpg

Hope it helps.

Posted on Oct 04, 2009

  • k24674 Oct 04, 2009

    Keep in mind that along the ordinate axis number are in thousands.

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