Math Problem Statement
A baker will supply 25 jumbo cinnamon rolls to a cafe at a price of $4.40 each. If she is offered $4.10, then she will supply 2 fewer rolls to the cafe. The cafe's demand for jumbo cinnamon rolls is given by p = D(x) = -0.75x + 14.15. What is the equilibrium point? rolls at a price of $ each
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Linear Equations
Supply and Demand
Equilibrium
Formulas
Supply function: p = 0.15x + 0.65
Demand function: p = -0.75x + 14.15
Equilibrium point: Set supply equal to demand, solve for x and p
Theorems
Equilibrium Theory in Economics
Suitable Grade Level
Grades 10-12