4-1 Systems of Equations (two variables) Consider the following system of equations: y=x+2 y = -x + 4 Our job: find a point (pair (x,y)) that satisfies both equations If we graph these equations, we get: 4 y y=x+2 y = -x + 4 x 4 describe the point that satisfies both equations what are its coordinates? does that point, in fact, satisfy both equations? graphical method (just shown): can be an effective way, using a graphing calculator we will concentrate on systematic, algebraic methods 4-1 p. 1 Solving systems by elimination Example: 1 x+y=4 2 x- y=1 Strategy: “add” the two equations in order to "eliminate" one of the variables + 1 x+y=4 2 x- y=1 _____________________ 3 2x =5 You now have one equation with one unknown. Solve it for x, substitute in 1 or 2 and solve for y. Example: 1 3x + 3y = 15 2 2x + 6y = 22 Mere adding won't eliminate. We multiply each equation by an appropriate constant so adding will eliminate (either x or y): 1 2: 6x + 6y = 30 2 -3: -6x - 18y = -66 ___________________________________ -12y = -36 y=3 4-1 etc. p. 2 FUNNY THINGS THAT CAN HAPPEN, AND HOW TO COPE Funny thing #1: How to cope: Example: you get an equation that is never true, e.g. 10 = 0 STOP! and write the answer "No solution" system consists of two parallel lines (they never cross) called an inconsistent system x - y = 10 -x + y = 5 _________________________ 0 + 0 = 15 Ans: inconsistent; no solution Funny thing #2: How to cope: Example: you get an equation that is always true, e.g. 10 = 10 STOP! and write as shown in example system consists of two identical lines (every point of the first is a point on the second) all (infinitely many) points on either line are solutions called a dependent system x - y = 10 -x + y = -10 _______________________ 0+0=0 Ans: dependent system all points on the line x - y = 10 4-1 p. 3 An application: supply and demand Pokey, Inc. makes Pokemon cards. Two variables are involved: q: the quantity of cards to be manufactured p: the price per card to be charged the consumers There are two governing equations that embody what is known as the "law of supply and demand": price-demand equation q = -1000p + 3000 describes the effect of price on demand price-supply equation q = 1200p - 800 describes the effect of price on supply Note: Our book would write these equations (equivalently) as p = -(1/1000)q + 3, and p = (1/1200)q + 2/3, that is, thinking of p as a function of q, or, q as the independent variable and p as the dependent variable. I think things are easier to explain by taking p to be the independent variable. 4-1 p. 4 Supply and demand equations graphed demand equation: q = -1000p + 3000 (here, q is demand) supply equation: q = 1200p – 800 (here, q is supply) demand equation has negative slope . . . as the price increases, demand will drop consumer market force supply equation has positive slope . . . as the price increases, the supply will increase supplier market force 4-1 p. 5 Market forces create a tug-of-war in the market place, as follows: If price (p) = $1: demand (q) = 2000 cards supply (q) = 400 cards Demand exceeds supply, so the price will go up Suppose price rises to $2: demand = 1000 supply = 1600 Now supply exceeds demand, and price will be forced down. Here's the picture: At a price of $1, market forces send the price up At $2, market forces send the price down 4-1 p. 6 Will the market inevitably continue to move up and down? Or is there a price at which the kids will buy exactly the the quantity being produced, achieving an equilibrium price/quantity? Mathematically, the equilibrium values will be found by solving the supply and demand equations simultaneously; doing so, we get p = $1.72, and q = 1280. So if Pokey manufactures 1280 cards and sells them for $1.72, everybody will be satisfied (!!). The troubles: the assumption that these relationships are linear, and (assuming that they are) . . . determining the appropriate equations for the given market 4-1 p. 7