1. Tudor's Televisions finds that if they charge 200 dollars for their basic TV, they will sell 50 TVs. If they charge 250 dollars, they will only sell 40 TVs. (a) Use this data to form a linear demand equation of the form p= mq+b, with p being the price charged and q being the number of items. (b) They corresponding supply equation is given by p = q. Find the equilibrium price and quantity. Note which is the price and which is the quantity.
1. Tudor's Televisions finds that if they charge 200 dollars for their basic TV, they will sell 50 TVs. If they charge 250 dollars, they will only sell 40 TVs. (a) Use this data to form a linear demand equation of the form p= mq+b, with p being the price charged and q being the number of items. (b) They corresponding supply equation is given by p = q. Find the equilibrium price and quantity. Note which is the price and which is the quantity.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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could u help me figure this out?
![1.
Tudor's Televisions finds that if they charge 200 dollars for their basic TV, they will
sell 50 TVs. If they charge 250 dollars, they will only sell 40 TVs.
(a) Use this data to form a linear demand equation of the form p= mq+b, with p being the
price charged and q being the number of items.
(b) They corresponding supply equation is given by p = q. Find the equilibrium price and
quantity. Note which is the price and which is the quantity.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7bbad4e7-ea00-4690-a247-32b079408c53%2F9984023b-af47-40b5-8e53-082f7b1a062f%2Fiu3au0n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1.
Tudor's Televisions finds that if they charge 200 dollars for their basic TV, they will
sell 50 TVs. If they charge 250 dollars, they will only sell 40 TVs.
(a) Use this data to form a linear demand equation of the form p= mq+b, with p being the
price charged and q being the number of items.
(b) They corresponding supply equation is given by p = q. Find the equilibrium price and
quantity. Note which is the price and which is the quantity.
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