At a price of $100 there is demand for 824 items and a supply of 500 items. At a price of $180 there is demand for 504 items and a supply of 900 items. Assuming supply and demand are linear, find the equilibrium price and quantity. Equilibrium quantity: Equilibrium price: $ items

At a price of $100 there is demand for 824 items and a supply of 500 items. At a price of $180 there is demand for 504 items and a supply of 900 items. Assuming supply and demand are linear, find the equilibrium price and quantity. Equilibrium quantity: Equilibrium price: $ items

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

At a price of $100 there is demand for 824 items and
a supply of 500 items. At a price of $180 there is
demand for 504 items and a supply of 900 items.
Assuming supply and demand are linear, find the
equilibrium price and quantity.
Equilibrium quantity:
Equilibrium price: $
Submit Question
items

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