he quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $136. The quantity demandedach month is 1000 when the unit price is $106. The suppliers will market 750 espresso makers when the unit price is $80er higher. At a unit price of $100, they are willing to market 2250 units. Both the supply and demand equations are knowno be linear.(a) Find the demand equation.-1-x + 14625p =(b) Find the supply equation.1x+ 70p =75*(c) Find the equilibrium quantity and the equilibrium price.|× units

We are going to find the equilibrium price and quantity to answer this question.

he quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $136. The quantity demanded ach month is 1000 when the unit price is $106. The suppliers will market 750 espresso makers when the unit price is $80 r higher. At a unit price of $100, they are willing to market 2250 units. Both the supply and demand equations are known o be linear. (a) Find the demand equation. -1 p = -x + 146 25 (b) Find the supply equation. 1 p = 75* + 70 (c) Find the equilibrium quantity and the equilibrium price. X units %24

he quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $136. The quantity demanded ach month is 1000 when the unit price is $106. The suppliers will market 750 espresso makers when the unit price is $80 r higher. At a unit price of $100, they are willing to market 2250 units. Both the supply and demand equations are known o be linear. (a) Find the demand equation. -1 p = -x + 146 25 (b) Find the supply equation. 1 p = 75* + 70 (c) Find the equilibrium quantity and the equilibrium price. X units %24

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

he quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $136. The quantity demanded
ach month is 1000 when the unit price is $106. The suppliers will market 750 espresso makers when the unit price is $80
er higher. At a unit price of $100, they are willing to market 2250 units. Both the supply and demand equations are known
o be linear.
(a) Find the demand equation.
-1
-x + 146
25
p =
(b) Find the supply equation.
1
x+ 70
p =
75*
(c) Find the equilibrium quantity and the equilibrium price.
|× units

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