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question 1 a-g please 1. Given the following Supply function:p = 8 In( x + 4), p: price in dollars x: Thousands of Scientific Calculators

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question 1 a-g please

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1. Given the following Supply function:p = 8 In( x + 4), p: price in dollars x: Thousands of Scientific Calculators Demand Function: p = 60e-.065x, p , p: price in dollars x: Thousands of Scientific Calculators a.) Graph both functions use Xmin = 0, Xmax = 40,Xscale=5 Ymin = 0, Ymax = 60 Yscale=5 b.) Find and interpret the equilibrium point using your calculator or computer software.. c.) Find the supply and demand when the price is $30 using algebra and explain in complete sentences what will happen to the market and why. d.) Now use the Demand function above and create the Revenue function. Graph using window Xmin = 0, Xmax = 50,Xscale=5 Ymin = 0, Ymax = 500 Yscale=50 e.) Now use your calculator of computer software to find the maximum revenue. Discuss the point you found. Remember Revenue will be in thousands of dollars. f.) If cost is given by C(x) = 80In (x + 10) with x: thousands of calculators produced and sold and C(x): total cost in thousands of dollars. Graph the cost function on the same graph as the revenue function. g.) Use the graphing calculator or computer software to find the break even points and discuss them

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