Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:A group of retailers will buy 76 televisions from a wholesaler if the price is $375 and 116 if the price is $325. The wholesaler is willing to supply 52 if the price is $310 and 132 if the price is $400. Assuming that the resulting supply and demand functions are linear, find
the equilibrium point for the market.
(9, p) =
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