Photon lighting company determines that the supply and demand functions for its most popular lamp are as follows: s(p) = 400 - 4p + 0.2p4 and d(p) = 2800 - 0.0012p3, where p is the price. determine the price for which the supply equals the demand.

a) $93.24
b) $100.24
c) $96.24
d) $99.24

The correct answer is (C).

Explanation:

Supply function:

Demand function:

S(p)=D(p), price for which supply is equal to demand:

After solving this above equation graphically, we will get the values of p.

1) p =96.236

2) p=( -118.258)

We will reject the negative value of p.

So, the value of p that price for which the supply equals the demand is $ 96.236 $96.24. Hence, the correct answer is option (C).

Price equals $96.24

Explanation:

It is given that,

The supply function is given by,

The demand function is given by,

We have to find the price for which the supply equals to the demand.

After solving above equation we get :

So, it is clear from the attached graph that p = 96.24 and q = -118.26

So, the correct option is (c) " $96.24 ".

elly's long hair:

a. if the salon only takes cash, then this isn't the problem. it doesn't matter how much she has in her checking account.   she can't get a haircut until she has the cash.

b. if she has overdraft protection, then there's no problem.   she can go ahead and write a check that her account can't cover, then sometime later, pay the bank some outrageous usury for loaning her a few bucks for a few days, but with beautiful hair.

c. if elly has some principles, and doesn't want to write a bad check, then now she has a problem.   her desire for the new hairstyle is in conflict with her honesty and integrity.

d.   if the bank will not process a check she writes, then even if she had a million $$ in her account, she couldn't use any of it.   the amount she has in her account is not the problem.   and if i may suggest, she might as well close her checking account, and put the money where it'll work for her.   it's not doing her a bit of good in a checking account, since she can't write any checks.

justin can't pay the full balance:

a. he can't even handle the credit limit he has now.   under no circumstances should he ask for a higher limit.

b.   he can ask for the grace period to be extended.   but that's no solution, the bank will almost certainly refuse anyway, and there are much better options.   he knew the rules of his credit card when he started using it.

c.   he definitely should pay the interest on the balance, plus as much of the balance as he can cover at the same time.

d.   he definitely should pay the minimum otherwise they could shut down his card.   he should also pay as much more as he possibly can.   he should also remember the awkward situation he's in, stop buying stuff on credit that he can't afford, and avoid adding any more debt.

i'd say that justin's best best option isn't on this list of choices.   what he has to do:   pay as much as he can at least the minimum payment plus as much more as he can and then avoid adding more debt.