Assignment:
The equations S=5000 + 200x and D=9500-100x express the supply S and the demand D respectively, for the popular compact disc brand in terms of its price x (in dollars).
a) Graph the equation on the same coordinate system.
b) What happens to the supply as the price increases?
c) What happens to the demand as the price increases?
d) The price at which supply and demand are equal is called the equilibrium price. What is the equilibrium price?
Provide complete and step by step solution for the question and show calculations and use formulas.