1.3 Example 1 Asmal bis determines that the value in dollars of a copier t years after V-2001+ 2000. Describe the practical significance of the intercept and the yintercopt 3000 is intial price of copits Slopt 200 is the rate of depreciation per year. Letx represent the number of Canon digital cameras sold when priced at dollars each ti found that 10 when Express 100 and 15 when p-125. Assume that the demander X²10, p=100, x=15, p = 125 pas a function of slope. 125-100255 15 -10 P-100=(x-10) = 5x -50 PEX-50 +100 5x +50 5) Suppose that in addition to the demand function in (a) it is found that the supply equation is 20+6r. Find the equilibrium point for this market Demand PSX150 x+20=5 X 150 Supply p2ofux X=30 P5 (30) +50-200 to $30,000. 1. The RideEm Bcycles factery can produce 150 bicycles i produce 170 bicycles in a day at a total cost of $11,200 (4) What are the company's daily fand custs (inders? What is the marginal cost (in detars) perbe? 1.3 Example 1. A small business determines that the value (in dollars) of a copier t years after its purchase is V=-200t + 2000. Describe the practical significance of the y-intercept and the slope. yintercept 2000 is intial price of copies Slope 200 is the rate of depreciation per year 2 a) Let x represent the number of Canon digital cameras sold when priced at p dollars each. It is found thatx= 10 when p= 100 and x = 15 when p= 125. Assume that the demand is linear. Express x = 10₁ p = 100₁ x = 15₁ p = 125 p as a function of x. Slope = 125-100 - 25=5 15 -10 P-100 = 5(x - 10) = 5x -50 P=5x -50 +100 = 5x +50 b) Suppose that in addition to the demand function in (a), it is found that the supply equation is p= 20+ 6x. Find the equilibrium point for this market. Demand p=5x150 6x + 20 = 5 x + 50 Supply p= 20+ 6x X = 30 P = 5 (30) + 50 - 200 3. The RideEm Bicycles factory can produce 150 bicycles in a day at a total cost of $10,400. It can produce 170 bicycles in a day at a total cost of $11,200. (a). What are the company's daily fixed costs (in dollars)? (b). What is the marginal cost (in dollars) per bicycle? 1.3 Example 1. A small business determines that the value (in dollars) of a copier t years after its purchase is V = -200t + 2000. Describe the practical significance of the y-intercept and the slope. yintcrccp+ 2000 is intial price or copies Slope : 200 is the rate of depreciation per year 2 a) Let x represent the number of Canon digital cameras sold when priced at p dollars each. It is found that x = 10 when p = 100 and x = 15 when p = 125. Assume that the demand is linear. Express p as a function of x. X-10, p=100, X =15, p =125 Slope = 125 - 100 25.5 15 -10 5 P-100 = S(x-10): 5x -50 P +5X -50 +100 -SX 150 b) Suppose that in addition to the demand function in (a), it is found that the supply equation is P = 20 + 6x. Find the equilibrium point for this market. ocmond P = Sx150 6x Zo = 5x150 Supply: p= 20tbX X-30 P-5 (30) +50 - 200 3. The RideEm Bicycles factory can produce 150 bicycles in a day at a total cost of $10,400. It can produce 170 bicycles in a day at a total cost of $11,200. (a). What are the company's daily fixed costs (in dollars)? (b). What is the marginal cost (in dollars) per bicycle?