Stutz Department Store will buy 10 pairs of sunglasses if the price is $80 per pair and 30 pairs if the price is $30. The supplier of the sunglasses is willing to provide 35 pairs if the price is $85 per pair but pairs if the price is $25. Assuming that the supply and demand functions for the sunglasses are linear, find the market equilibrium point.

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 5ECP
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Stutz Department Store will buy 10 pairs of sunglasses if the price is $80 per pair and 30 pairs if the price is $30. The supplier of the sunglasses is willing to provide 35 pairs if the price is $85 per pair but
pairs if the price is $25. Assuming that the supply and demand functions for the sunglasses are linear, find the market equilibrium point.
(a, p) - (_
Transcribed Image Text:Stutz Department Store will buy 10 pairs of sunglasses if the price is $80 per pair and 30 pairs if the price is $30. The supplier of the sunglasses is willing to provide 35 pairs if the price is $85 per pair but pairs if the price is $25. Assuming that the supply and demand functions for the sunglasses are linear, find the market equilibrium point. (a, p) - (_
Suppose that in a certain market the demand function for a product is given by 10p + q = 2,300 and the supply function is given by 50p – q = 1,150. (Assume price is measured in dollars.) If the government
levies a tax of $3 per item, find the equilibrium point after the tax is levied. The tax is added to the selling price of the product.
(9, p) =
Transcribed Image Text:Suppose that in a certain market the demand function for a product is given by 10p + q = 2,300 and the supply function is given by 50p – q = 1,150. (Assume price is measured in dollars.) If the government levies a tax of $3 per item, find the equilibrium point after the tax is levied. The tax is added to the selling price of the product. (9, p) =
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