This website uses cookies to ensure you have the best experience. Learn more

Bus. Math Essay

2209 words - 9 pages

Supply, Demand and Equilibrium in Linear Equation

The quantity demanded is the amount of a good that consumers want to buy at a given price, holding constant all other factors that influence purchases. The demand function shows the mathematical relationship between the quantity demanded , the price of the product, and other factors that influence purchases. A demand curve plots the demand function, again holding constant other factors. The quantity supplied is the amount of a good that firms want to sell at a given price, holding constant all other factors that influence firms’ supply decisions. The supply function shows the relationship between the quantity supplied, the price of the ...view middle of the document...

The slope will be equal to:
(y2-y1) = (850-350) = 500
(x2-x1) (140-120) 20 and wil be equal to 25.

Substitute any of the 2 points to find the y-intercept.
The equation will be: y = 25x + b
we will substitute (140,850) to get 850 = 25*140 + b

Your supply equation is: y = 25x – 2650

Demand equation:

Since this is a linear equation, it will take the slope-intercept form of:
y = mx + b where m is the slope and b is the y-intercept.

The slope will be equal to (y2-y1) = (850-980) = -130
(x2-x1) (140-120) 20 This is equal to -6.5.
We just need to substitute again any of the 2 points to find the y-intercept.
The equation will be : y = -6.5x + b
We will substitute (140,850) to get 850 = -6.5*140 + b

Solve for b to get b=850 – (-6.5*140) = 1760
Your demand equation is y = -6.5x + 1760

You have two linear equations:
Your demand equation is sloping downwards.
Your supply equation is sloping upwards.
Your equilibrium point is when x = 140 cents which is equivalent to $1.40 per bushel.

Example 2:
Definitions of linear supply and demand:
_____ Dq = a - bP
_____ Sq = c + dP _____ _____ (1)
where Dq = quantity demanded, Sq = quantity supplied, P = price per unit and a,b,c, and d are constants. 

Note: Remember that the constants a till d will always be given to you with values assigned, e.g. a = 5.

Interpreting the equations:
When given a value for the price, the quantities supplied and demanded can be obtained by plugging the value for P into the equations and solving for Dq and Sq. For example, let a = 12, b = 1, c = 0, and d = 1 such that:
_____ Dq = 12 - P
_____ Sq = P ________________(2)
When given a value for price, say $4, the values for Dq and Sq can now be found,
_____ D = 12 - 1(4) = 8
_____ S = 4 _________________(3)
Notice that the quantity supplied does not equal the quantity demanded when P = 4. Only at the equilibrium price will they be equal.

Finding the equilibrium price and quantity:
The equilibrium price is that price at which the quantity supplied equals the quantity demanded, or where Dq = Sq. To find the equilibrium price we first set the demand equation equal to the supply equation:
_____ D = S
_____ 12-P = P _______________(4)
We now solve this equation for P to obtain the equilibrium price. The first step is to add P to each side, eliminating the P from the left side:
_____ 12 - P = P
_____ +P = +P 
___________________
_____ 12 - 0 = 2P
_____ 12 = 2P _________________(5)
The next step is to divide each side by 2 in order to get the equilibrium value for P,
_____ 12/2 = 2P/2 or 6 = P ______ (6)
The equilibrium price in this case is P = $6. The equilibrium quantity can now be found by substituting the equilibrium value for P into either the original supply or demand equation:
_____ D = 12 - 6 = 6
_____ S = 6 ___________________(7)
The equilibrium quantity is D =...

Other Papers Like Bus. Math

Divergent Essay

1602 words - 7 pages —it is on these mornings that I feel guiltiest for wanting to leave them. The bus stinks of exhaust. Every time it hits a patch of uneven pavement, it jos tles me from side to side, even though I’m gripping the seat to keep myself still. My older brother, Caleb, stands in the aisle, holding a railing above his head to keep himself steady. We don’t look alike. He has my father’s dark hair and hooked nose and my mother’s green eyes and

Lesson Plan: Life Is a Highway

1855 words - 8 pages Helper points to numbers on chart *Morning message TEKS: Math 1C, 2A, 2B, 5, 6B, 9C, 11A, 11C, 14A, 14B Language Arts 1B, 1C, 2A, 3A, 3C, 5A-G, 6C, 7A, 10A Social Studies1 Science 5B, 7 Evaluation: Teacher observation/Student participation 8:50-9:20 Math TEKS: 4A, 5A, 6B, 10A |Monday |Tuesday |Wednesday |Thursday |Friday

Nt1210T Unit 1 Computer Basics

945 words - 4 pages the document as a file called report1. Which of the following determines, in part, what bits the computer stores in the file to represent the text typed into the report? c. Character set 7. A user has opened a calculator application, typed the numbers 123456789, and then done some math problem using this number. Which of the following determines, in part, what bits the computer stores in RAM to represent the number 123456789? d. The

Portfolio Managment

2236 words - 9 pages Bus. 463 Project Report, Extended Geo Mean, Jensen-Alpha Measure April 1st, 2013 Table of Contents Client Description……………………………………………………………………………………3 Discussion of Models……………………………………………………………………………...4 Markowitz Model………………………………………………………………………..4-5 Single-Index Model………………………………………………………………………..5 Geometric Mean…………………………………………………………………………….6 Recommendations…………………………………………………………………………………6-7 Analysis

See No Evil

1216 words - 5 pages which I am able to connect my personal struggle with a bias. When walking into my first day of high school I was extremely nervous, not knowing exactly what to expect I didn’t go into the situation with an open mind. As I sat down for my first math class a foreign boy entered the room gazing for a seat. I remember vividly, for some reason not wanting the boy to sit next to me so I stared down at the desk, refusing to look up. Starring down at the

Nt1210

1313 words - 6 pages computer stores in the file to represent the text typed into the report. C. Character set 7. A user has opened a calculator application, typed the numbers 123456789, and then done some math problem using this number. Which of the following determine, in part, what bits the computer store in RAM to represent the number123456789? D. The binary equivalent to123456789 8. Which of the following is not a feature of a file system that might be used

Itt Nt1210 Multi Choice

907 words - 4 pages , and stored the document as a file called report1. Which of the following determines, in part, what bits the computer stores in the file to represent the text typed into the report? c. Character set 7. A user has opened a calculator application, typed the numbers 123456789, and then done some math problem using this number. Which of the following determines, in part, what bits the computer stores in RAM to represent the number 123456789? d. The

Students Cheating on Exams, Essays, and Tests - Reasons and Solutions

1020 words - 5 pages math test then oftentimes a graphing calculator is needed, but these calculators have the capabilities to store material. I feel that if a student tries to cheat in this manner then the consequences should be that they are no longer able to use a calculator in future exams and they will fail the current test. Not allowing calculators during future exams would be a drastic consequence because many algebra and geometry tests require calculators

job anaysis

3069 words - 13 pages Answer for the personal assignment Name- Kalid Jemal Ali Background According to the personal assignment question number one, the detail job analysis of XYZ transportation service public limited company drivers with respect to the different vehicles of 40 tones highway heavy load truck driver, 10 ton capacity mini-bus and vans truckers for city use and luxury cars that company owns to deliver different transportation service. Q1a. Job

Soul Surfer vs. the Running Dream (No Conclusion!!!)

1724 words - 7 pages Carlisle who lost her leg in a school bus accident when returning to her school from a track meet. Jessica Carlisle was like any other teenage girl. She had a crush, a best friend, and was pretty much oblivious to the rest of the world’s pain and struggles. Sure, she knew about 9/11, and the Oklahoma bombings, and Isis. Big things. But she’d never really experienced a loss like the one that was coming. She’d never experienced a loss that truly

Content and Description of Courses in Economics Department at the University of Jos

1194 words - 5 pages central tendency and dispersion; the unit normal distribution. Simple tests of hypotheses; Simple regression analysis; Index Numbers ECO 113 & 123 – Introductory Math for Economists Mathematical concepts in the social sciences; set theory; factors and exponents, logarithms and trigonometry, equations, functions and progressions. Coordinates geometry, trigonometric functions and their inverse; inequalities; matrix algebra; differentiation

Related Essays

Bis 155 Complete Course (Dqs Quizes Labs & Course Project) Devry

1488 words - 6 pages 434 Entire Class, Strayer BOSP 434 , BOSP/434 , BOSP 434 All Assignments, BOSP 434 All Dqs, BOSP 434 ExerCises, BOSP 434 Final, BOSP 434 Week 1, BOSP 434 Week 2, BOSP 434 Week 3, BOSP 434 Week 4, BOSP 434 Week 5, BOSP 434 Week 1-5, BOSP 434 mcqs, BOSP 434 , BOSP 434 DeVry, BUS 100 Complete Course, BUS 100 Complete Class, BUS 100 Entire Course, BUS 100 Entire Class, BUS 100 , BUS 100 New Course, BUS 100 All

Data Driven Essay

590 words - 3 pages priya has done correctly. Bunty: Priya, How you learnt to solve problems. You were also not good in Math earlier Priya: Integrate can help you. They teach Math in a funny and interesting manner. They can change your Math Adult: Scene Bus stop: Girl: How long it takes for the cab to come, how can I take my 5 lakhs home safely to the hospital? Biker: Suddenly speeds up and robs the money Girl: Cries out loud for help!! Guy1

Finance Essay

620 words - 3 pages SUGGESTED PROGRAM PLAN FOR FINANCE MAJORS FIRST YEAR Fall Semester (14 or 15 credits) Spring Semester (15 or 16 credits) ENG106 Writing Intensive First Year Seminar* HCS100 Hum Comm Studies HIS101 World History I* HIS106 World History II* MAT108 Finite Math MAT181 Applied Calculus I ________ General Education elective ISM142 Business Computer Systems* BSN101 Foundations of Bus Admin (2 crs.)* ________ General Education

All About Me Essay

521 words - 3 pages and my sister, not sure what nasty surprises she’d prepared for me. Did this 13 year-old have to waste the second day of secondary?In class, when I was learning math, English and music, which are my favourite subjects, teachers always get fussy about uniforms and how students look. Today, for the first time in music, Mr. Russell told me off for one, not putting my glasses on properly; two, not tying my thick black, smooth hair back; three