(a ) The price of a crate of drinks is $9 when the demand is 320 crates and the price per crate drops to $8.50 when the demand is 270 crates. determine the linear price-demand function (b ) calculate the price per crate at a demand of 180 crates (c ) if the equation for supply is given: p(x)= -0.005+10 find the equilibrium price and quantity per crate.
(a ) The price of a crate of drinks is $9 when the demand is 320 crates and the price per crate drops to $8.50 when the demand is 270 crates. determine the linear price-demand function (b ) calculate the price per crate at a demand of 180 crates (c ) if the equation for supply is given: p(x)= -0.005+10 find the equilibrium price and quantity per crate.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. (a ) The
determine the linear price-demand function
(b ) calculate the price per crate at a demand of 180 crates
(c ) if the equation for supply is given: p(x)= -0.005+10 find the
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