Worldwide quarterly sales of a brand of cell phones were approximately q = −p + 126 million phones when the wholesale price was $p. (a) if the cellphone company was prepared to supply q = 9p − 354 million phones per quarter at a wholesale price of $p, what would have been the equilibrium price? $ 48 correct: your answer is correct. (b) the actual wholesale price was $43 in the fourth quarter of 2004. estimate the projected shortage or surplus at that price. hint [see example 4.] there is an estimated correct: your answer is correct. of incorrect: your answer is incorrect. million phones.

a) equilibrium price = $48

b) shortage of 50 million phones

Step-by-step explanation:

Quarterly sales of a brand/quantity demanded (q) =

-p+126 million phones

a) if supply(q) = 9p - 354 million phones, at equilibrium quantity demanded = quantity supplied

-p + 126 = 9p - 354

-p - 9p = -354 - 126

-10p = -480

p = -480/-10

p = $48

The price at equilibrium = $48

b) actual wholesale price in the fourth quarter of 2004= $43

Quantity demanded = -p + 126

= -43 + 126

= 83 million phones

Quantity supplied = 9p - 354

= 9(43) - 354

= 387 - 354

= 33 million phones

Since quantity supplied is less than quantity demanded, there will be a shortage.

Shortage = 83 -33

= 50 million phones

d. $180

step-by-step explanation:

if the dimensions of the room is 9ft by 12 ft, we have the area of the floor as,

so the area of the floor is 108 square feet, converting that into square yards we get,

the cost of carpet is $15 per square yard, therefore the cost of carpet for 12 square yards is,

hence, the cost of carpet is $180.

assuming the dimensions of the room be,

15 ft by 12 ft

so, the area of the floor of that room is,

we can convert 180 square feet into square yards, we know that,

1 sq ft = 0.111 sq yard

so, 180 square feet is,

so the area of floor is 20 square yards.

now, the cost of carpet is 15 dollars per square yard, therefore the cost of carpet for 20 square yards is,

so, it will cost $300.

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