4. Market research of a product shows that when the price is $2, the demand is 44 units, while when the price is $10, the demand is only 20 units. At $2, a company is willing to supply 20 units into the market, while at $10, it is willing to supply 60 units. a. Find the Demand equation. b. Find the Supply equation. Find the equilibrium level of output and price. С.

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ISBN:9780470458365
Author:Erwin Kreyszig
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4. Market research of a product shows that when the price is $2, the demand is 44 units, while
when the price is $10, the demand is only 20 units. At $2, a company is willing to supply 20
units into the market, while at $10, it is willing to supply 60 units.
a. Find the Demand equation.
b. Find the Supply equation.
Find the equilibrium level of output and price.
С.
Transcribed Image Text:4. Market research of a product shows that when the price is $2, the demand is 44 units, while when the price is $10, the demand is only 20 units. At $2, a company is willing to supply 20 units into the market, while at $10, it is willing to supply 60 units. a. Find the Demand equation. b. Find the Supply equation. Find the equilibrium level of output and price. С.
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