ACME Skateboards Inc., has paid consultants to look overlast year\'s sales and p

Question

ACME Skateboards Inc., has paid consultants to look overlast year's sales and provide them with supply and demand equationsthat fit their sales data. The consultants provided the equation S= 0.09x^2 - 0.45x + 3.5 for the company's supply curve where x isthe price per skateboard in dollars, and S is the number ofskateboards produced in thousands. The consultants also provided D= 15 - 0.5x as the demand curve where x represents the price perskateboard in dollars, and D represents the demand for theirproduct in thousands.

1. What should the price of a skateboard be for the company tobreak even? (Round your answer to the nearest penny.)

2. What is the demand for ACME's skateboards if the price of askateboard is $11.14? (Round your answer to the nearesthundred)

3. By how many skateboards will demand exceed supply if theprice is set at $7.02 per skateboard? (Round your answer to thenearest hundred)

4. At what unit price will supply exceed demand by one thousandskateboards? (Round your answer to the nearest penny)

5. Solve: x1/2 + 2x1/4 - 3 = 0.

Explanation / Answer

1. to break even supply = demand 2. use x=11.14 in demand eqn to get answer 3. use x=7.02 in supply equation

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