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You are given a pair of supply and demand equations; identify which is supply and which demand. Plot both on the same set of axes and find the point of market equilibrium.$$\begin{aligned}&p-2 x^{2}=1\\&p+4 x^{2}=25\end{aligned}$$

$$(2,9)$$

Algebra

Chapter 1

Functions and their Applications

Section 6

Economic Functions

Functions

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McMaster University

Idaho State University

Lectures

01:43

In mathematics, a function is a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output. An example is the function that relates each real number x to its square x^2. The output of a function f corresponding to an input x is denoted by f(x).

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You are given a pair of su…

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Market Equilibrium The sup…

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Find the point of equilibr…

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You are given a pair of eq…

this Cuban problem. We're uh given supply and demand functions. Um We want to determine which one is which. So first, let's solve for P. We'll have P. Okay, was one plus two X square right off the bat. We should know that this is going to be the supply function because we see as X increases uh the price or the p value increases, meaning this is our supply function to positive. Then if we have a decreasing slope, we see this is going to be our demand function, which is going to be given by the second one that's P equals negative four X squared plus 25. So then we want to find the market equilibrium. So to do that, we can either set them equal to each other and solve for X. Or as I like to do, just use technology. Technology is very useful. Computers are very useful in solving math problems. So we end up seeing that to nine is going to be the point of market equilibrium.

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