Math Problem Statement
Solution
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This equation represents a demand curve where is the price and is the quantity demanded.
Explanation:
The equation is quadratic in terms of , which means the graph of this demand curve will be a parabola. To sketch the curve, we would need to:
- Identify the vertex of the parabola.
- Determine the behavior of the curve by analyzing the coefficients.
- Plot a few key points (e.g., where , and other values of ).
Since the quadratic term has a negative coefficient, the parabola will open downwards. The linear term and the constant term influence the position and tilt of the curve.
Steps to graph the curve:
- Find the vertex: Use the formula for the vertex of a parabola, where the equation is in the form .
- Determine key points: Calculate the price for different values of (e.g., ).
- Sketch the curve: Plot these points and draw a smooth curve that passes through them, noting that it will be a downward-facing parabola.
Would you like me to calculate the vertex and key points, or provide more details about the graph?
Relative Questions:
- How do you calculate the vertex of a quadratic function?
- What does the shape of a demand curve tell us about consumer behavior?
- How does the coefficient of affect the curvature of the demand curve?
- How can we find the intercepts of the demand curve?
- What real-life factors could shift the demand curve horizontally or vertically?
Tip: When graphing quadratic functions, it’s helpful to plot several points to understand the full shape of the parabola, especially the vertex and intercepts.
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Math Problem Analysis
Mathematical Concepts
Algebra
Quadratic Equations
Demand Curve
Formulas
Quadratic equation: ax^2 + bx + c
Vertex of a parabola: x = -b / (2a)
Theorems
Vertex Theorem of Quadratic Functions
Suitable Grade Level
High School (Grades 10-12)
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