Graph this two equations.
Ap&Math
P=Price
D=Demand
S=Supply
S(p)= -200+50p and
D(p)=1000-25p
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Graph this two equations.
Ap&Math
P=Price
D=Demand
S=Supply
S(p)= -200+50p and
D(p)=1000-25p
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Answer:
To graph the two equations, you can plot the supply and demand functions on the same coordinate plane. The x-axis represents the price (P) and the y-axis represents the quantity (Q).
For the supply equation, S(p) = -200 + 50p, you can plot different points by plugging in different values for P and solving for Q. For example:
At P = 0, Q = -200 + 50(0) = -200 (plot this point as (0, -200) on the graph)
At P = 10, Q = -200 + 50(10) = 300 (plot this point as (10, 300) on the graph)
At P = 20, Q = -200 + 50(20) = 700 (plot this point as (20, 700) on the graph)
Similarly, for the demand equation, D(p) = 1000 - 25p, you can plot different points by plugging in different values for P and solving for Q. For example:
At P = 0, Q = 1000 - 25(0) = 1000 (plot this point as (0, 1000) on the graph)
At P = 10, Q = 1000 - 25(10) = 500 (plot this point as (10, 500) on the graph)
At P = 20, Q = 1000 - 25(20) = 0 (plot this point as (20, 0) on the graph)
The point where the two lines intersect would be the market equilibrium point, where the quantity demanded equals the quantity supplied.
It's important to mention that the graph will be a straight line for both equations since both are linear equations, the slope of the supply equation is 50 and the slope of the demand equation is -25, the y-intercept of the supply equation is -200 and the y-intercept of the demand equation is 1000.