![]() ![]() The price at which the demand for a product equals the supply is called the equilibrium price. If you increase the price of a product, the supply increases because its manufacturers are willing to provide more of the product, but the demand decreases because consumers are not willing to buy as much at a higher price. The law of supply and demand is fundamental in economics. For example, if your variable represents the speed of a train, your equation might be about the distance the train traveled. Note that the quantity mentioned in step 2 will probably not be the same unknown quantity you are looking for, but the algebraic expressions you write will involve your variable. Writing an equation is the hardest part of the problem. ![]() For example, \(x\) can represent the speed of a train, but not just “the train.” Be as specific as possible-if you are going to write an equation about this quantity, you must understand its properties! Remember that your variable must represent a numerical quantity. In step 1, begin by writing an English phrase to describe the quantity you are looking for. Interpret your solution to answer the question in the problem. Identify the unknown quantity and assign a variable to represent it.įind some quantity that can be expressed in two different ways and write an equation. Here are some guidelines for problem solving with algebraic equations. We can then use algebra to solve the mathematical problem and interpret the solution in the context of the original problem. Problem solving often involves translating a real-life problem into a computer programming language, or, in our case, into algebraic expressions. Function Notation and Transformation of Graphsĭoes not work either!) Subsection Problem Solving.Algebraic Expressions and Problem Solving.Systems of Linear Equations in Three Variables. ![]() Systems of Linear Equations in Two Variables.Equations That Include Algebraic Fractions.Projects for Chapter 2: Periodic Functions. ![]()
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