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Supply and demand graphs meet at the equilibrium price.
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If p the computer's original price in dollars which algebraic expression represents the reduced price?
250-p
The equation sp -0.15 p represents the sales price s of an item with an original price p after a 15 discount . A T-shirt costs 12. What is the sale price?
It is 10.20
How do you figure out the original price of something that you only know the ending total and the percentage off?
We're gonna tear this up. It's simple, but it will take a bit of patience, so buckle up. Ready? Let's go. You don't know the original price. You know the percent off. You know the sale price. We're in business. Let's hammer this thing. Here's how to work the problem....We don't know the original price, but we know that a percentage of it has been deducted from it (that original price) to give us a sale price, okay? Some percent off the original price is the sale price. Here's the trick. Look at the percent off. Now look at 100% minus the percent off. This new percentage represents how much of the original cost the final cost is. Got it? Another way to say that is that our new (calculated) percentage times the original price equals the sale price. Make sense? Let's pick something easy and give it a test drive.Say something costs $9 (that's the sale price), and it was marked down 10%. That means that the original cost minus 10% of the original cost is the final (the sale) price, or the $9. Now check this out. Focus. The discount was 10%, and another way to look at the problem is that the sale price is 100% -10% of the original price, which says that the sale price is 90% of that original price. Again, the sale price is 90% of the original price. See how that works? We use the discount (percentage) and make a calculation to find out how much of the original price the sale price is. We good? Super.As we now have a "new" set of facts to work with, that is, we have the sale price and the percentage of the original price that the sale price represents, we can go for it. The original price (the unknown) times the percentage of that original price that the sale price represents equals the sale price. Let's look at our example.The original price times the percentage of that price the sale price represents equals the sale price. Again, original price times that percentage we calculated equals the sale price. Now to do some math. If the original price times that new percentage equals the sale price, then the original price equals the sale price divided by the percentage. See what we did? We moved the percentage over to the other side of the equation. We divided both sides by the percentage, and it "dropped out" on the one side and appeared on the other. That's because we needed to isolate the original price (so we could solve for it using the other variables). In our example, the original price equals $9 (the sale price) divided by 90% (the percentage of the original price the sale price represents. $9 divided by 90% equals $9 divided by 0.9 which equals $10. The original price of the item was $10, and it was 10% off. The 10% of $10 equals $1, and the sale price is $10 minus $1 which equals $9. Our work checks.One more problem for fun to lock things in. At a 20% off sale, an item sells for $40 (its sale cost). What was its original cost? We know that the $40 represents 80% of the original price (100% -20%). The original price times the 80% equals $40. The original price equals $40 (the sale price) divided by the 80% (the percentage of the original price that the sale price represents). $40 divided by 80% equals $40 divided by 0.8 which equals $50. Our item's original price was $50. Last thing. $50 times 20% equals $10, and $50 minus $10 equals $40. Our work checks.We good? Excellent!I don't understandexplain more carefully
Is discounted price the same as the sale price?
no discounted price is the price after some money has been taken off the sale price for a sale etc. but sale price is the original price
What is the original price of a coat if the new price is 18.00 with 15 percent off?
Original price - discount = new price Original price - (Original price x 0.15) = 18.00 Which can be written as: 1 Original price - 0.15 Original price = 18.00 Which can be written as: 0.85 Original price = 18.00 Wich can be written as: Original price = 18.00 / 0.85 Original price = 21.18 Note that since there is 15% off in the original price, the new price is essentially (100% - 15%) = 85% of the original price.
How can economist visualize equilibrium price?
Economists can visualize equilibrium price using a supply and demand graph. The point where the supply and demand curves intersect represents the equilibrium price. It shows the price at which the quantity demanded by consumers matches the quantity supplied by producers, resulting in a market balance.
What is the name of a curved line on a graph?
price or equilibrium A curve
Where is the location on a graph where supply and demand intersect called?
This is the equilibrium price. Equilibrium price is when quantity demanded equals quantity supplied - i.e. it is the price where everything supplied will be bought, so the market will be cleared.
Process of price determination?
Price is determined at the point of equilibrium. Equilibrium is a point of balance. In other words, equilibrium is the point at which quantity demanded and quantity supplied is equal. That is, market equilibrium refers to a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is called equilibrium price.
Where is the equilibrium price located?
At which point is the equlibrium price located
Define equilibrium price and name the mechanism for setting this price in a free-market system?
The equilibrium price refers to the price point at which supply and demand are equal. This price can be found by applying the three basic properties of equilibrium.
How to graph the demand and supply functions to determine the equilibrium price and quantity?
check out the related link. ===========================
What equilibrium price and equilibrium quantity?
equilibrium price and equilibrium quantity?: equilibrium price: When the price is above the equilibrium point there is a surplus of supply The market price at which the supply of an item equals the quantity demanded Price at which the quantity of goods producers wish to supply matches the quantity demanders want to purchase sa madaling salita supply=demand=price equilibrium quantity: Amount of goods or services sold at the equilibrium price The quantity demanded or supplied at the equilibrium price. supply=demand ayos?
What is established on a graph when the supply and demand line cross?
From 12th grade Economics, I can say that that point is called equilibrium. that is the point where both supply and demand's needs are met. If the point is above the supply and demand lines, It is inefficient and is only reached through new breakthroughs like technology, more workers, etc... and if the point is below where both lines meet, resources are being used inefficiently. Economics is the study of allocating scarce resources, after all.
What is point located at the supply and demand curves intersect?
The equilibrium price.
What is located at the point where the supply and demand curves intersect?
The equilibrium price.
What is meant by the equilibrium price?
It is the price where demand equals supply in a competitive market.
