Houston Community College System Linear Equations Exercises

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RRC 3: Linear
Task One: Supply and Demand
The data provided in the table below show the supply and demand for game cartridges at a toy
warehouse.
PRICE
SUPPLY
$10.00
$20.00
$40.00
90
240
540
DEMAN
D
440
340
140
JOI
1. Write the supply equation as a function of the price using the data in the table. Show your work.
W
2. Write the demand equation as a function of the price using the data in the table. Show your work.
0
3. Solve this system of equations to find the equilibrium price. What does your answer mean?
4. Graph the data points below and draw the supply line and the demand line. Be sure to label
your axes and the scale.
5. a) Determine the equilibrium point from
the graph.
b) How does your answer to part a) compare with
your answer from Question 3, in which you found
the equilibrium algebraically?
6. While considering the supply and demand
equations together, what is a reasonable domain
and range for the supply function? Explain your
Silverg.
Adapted from:
http://illuminations.nctm.org
demand = Supply
when
3. Solve this system of equations to find the equilibrium price. What does your answer mean?
Supply Equation y=1/5x+4
At Equil brum, Demand = Supply | x=300
Demand Equation )
y=-%0x454
1/5x+4=1/x + 54
y = 1/6(200) 14 | Price =24
%2 = 50
4. Graph the data points below and draw the supply line and the demand line. Be sure to label your
ly= 24
axes and the scale.
Supply
5. a) Determine the equilibrium point from the
40
graph
Equilibrium point is (200,26)
30
b) How does your answer to part a) compare with your
answer from Question 3, in which you found the
equilibrium algebraically?
Demand
20
Price
Price
supply
Demand
Quantity demanded at equilibrium is
equal-but price at equilibrum
differ
but they are close. Algebra
gave (300,247 and graph gives
(300,26). Algebra is mar accurate
6. While considering the supply and demand
equations together, what is a reasonable domain
and range for the supply function? Explain your
reasoning
Domain for supply function is 90, 240, 6.7
SD
240 12.400
560 720
conmondity
540,450
Range for Supply function is 10, 20,34:
i are x-values and y-values and
there are no problems” sports with this straight line. All real numbers
40. They
2008 National Council of Teachers of Mathematics
httpiluminations com org
Adapted from: