A chain of electronic stores sells​ hand-held color televisions. The weekly demand and supply models are given below. N is the number of televisions sold or supplied per week in the respective model and p is the price of the television.   a. How many​ hand-held televisions can be sold and supplied at ​$144 per​ television? b. Find the price at which supply and demand are equal. At this​ price, how many televisions can be supplied and sold each​ week?   N = −7p+1134 Demand model. N = 3.5p Supply model.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
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A chain of electronic stores sells​ hand-held color televisions. The weekly demand and supply models are given below. N is the number of televisions sold or supplied per week in the respective model and p is the price of the television.
 
a.
How many​ hand-held televisions can be sold and supplied at
​$144 per​ television?
b.
Find the price at which supply and demand are equal. At this​ price, how many televisions can be supplied and sold each​ week?
 
N
=
−7p+1134
Demand model.
N
=
3.5p
Supply model.
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