Solve the following systems of equations:
Solve the following systems of equations:
The sum of the squares of two numbers is 61. The difference of the squares of the two numbers is 11.
Set up two equations by letting x and y be the two numbers, where x is the larger of the two numbers.
Solve for x.
Find all the solutions. Write your answer as ordered pairs.
In business, supply and demand functions are ways of expressing the supply or demand of a commodity as a function of its unit price. Market equilibrium is the term that describes when the supply is equal to the demand. Consider the supply and demand functions for a new book bag below, where y is in dollars and x is in thousands of units supplied:
Supply function: y = 2 x^{2}
Demand function: y = - 4 x + 3 x^{2}
Solve the equations for x.
Which of these values of x must the equilibrium point be at? Explain your answer.
Find the value of y for this value of x.
Complete the following statement:
The equilibrium quantity occurs when ⬚ thousand units are being produced, which has a corresponding price of ⬚ dollars per unit.