The Yaster research department established the following price-supply function for thingamabobs:
q(x)= 1.75 + 13,
where is in thousands of thingamambobs. Find the equilibrium quantity. Use that information to complete the following sentence:
As the price of thingamabobs tends toward the equilibrium price, the supply and demand are both
thingamabobs. Round to the nearest thingamabob.
The value x= 9.547 should be used in the cost model to estimate the cost of producing how many thingamabobs?
thingamabobs. Round to the nearest thingamabob.