8-33 Section 8.3 Nonlinear Systems of Equations and Inequalities 825
APPLICATIONS
Market equilibrium: In a free-enterprise (supply and
demand) economy, the amount buyers are willing to pay for
an item and the number of these items manufacturers are
willing to produce depend on the price of the item. As the
price increases, demand for the item decreases since buyers
are less willing to pay the higher price. On the other hand,
an increase in price increases the supply of the item since
manufacturers are now more willing to supply it. When the
supply and demand curves are graphed, their point of
intersection is called the market equilibrium for the item.
Solve the following applications of economies of scale.
53. World’s most inexpensive car: Early in 2008, the
Tata Company (India) unveiled the new Tata Nano,
the world’s most inexpensive car. With its low price
and 54 miles per gallon, the car may prove to be
very popular. Assume the cost to produce these cars
is modeled by the function
, where C(x) represents the cost to
produce x-thousand cars. Suppose the revenue from
the sale of these cars is modeled by
. Use a break-even analysis to
find the quantity of sales (to the nearest hundred)
that will cause the company to break even.
54. Document reproduction: In a world of
technology, document reproduction has become a
billion dollar business. With very stiff competition,
the price of a single black and white copy has
varied greatly in recent years. Suppose the cost to
produce these copies is modeled by the function
, where C(x) represents
the cost to produce x hundred thousand copies. If
the revenue from the sale of these copies is
modeled by , use a
break-even analysis to find the quantity of copies
that will cause the company to break even.
55. Suppose the monthly market demand D (in ten-
thousands of gallons) for a new synthetic oil is
related to the price P in dollars by the equation
For the market price P, assume
the amount D that manufacturers are willing to
supply is modeled by
(a) What is the minimum price at which
manufacturers are willing to begin supplying the
oil? (b) Use this information to create a system of
nonlinear equations, then solve the system to find
the market equilibrium price (per gallon) and the
quantity of oil supplied and sold at this price.
8P
2
8P 4D 12.
10P
2
6D 144.
R1x20.1x
2
1.8x 2
C1x2 0.1x
2
1.2x 7
2x
2
180x 500
R1x2
120x 3500
C1x2 2.5x
2
56. The weekly demand D for organically grown
carrots (in thousands of pounds) is related to the
price per pound P by the equation
At this market price, the amount that growers are
willing to supply is modeled by the equation
(a) What is the minimum
price at which growers are willing to supply the
organically grown carrots? (b) Use this information
to create a system of nonlinear equations, then
solve the system to find the market equilibrium
price (per pound) and the quantity of carrots
supplied and sold at this price.
Solve by setting up and solving a system of nonlinear
equations.
57. Dimensions of a
flag: A large
American flag has
an area of 85 m
2
and a perimeter of
37 m. Find the
dimensions of the
flag.
58. Dimensions of a
sail: The sail on a
boat is a right
triangle with a
perimeter of 36 ft
and a hypotenuse of
15 ft. Find the
height and width of the sail.
59. Dimensions of a tract: The area of a rectangular
tract of land is 45 km
2
. The length of a diagonal is
km. Find the dimensions of the tract.
60. Dimensions of a deck: A rectangular deck has an
area of 192 ft
2
and the length of the diagonal is
20 ft. Find the dimensions of the deck.
61. Dimensions of a trailer: The surface area of a
rectangular trailer with square ends is 928 ft
2
. If the
sum of all edges of the trailer is 164 ft, find its
dimensions.
62. Dimensions of a cylindrical tank: The surface
area of a closed cylindrical tank is Find
the dimensions of the tank if the volume is
and the radius is as small as possible.320 m
3
192 m
2
.
1106
8P
2
6P 2D 48.
8P
2
4D 84.
College Algebra & Trignometry—
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