The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $170; the quantity demanded each month is 750 when the unit price is $150. The suppliers will market 750 espresso makers if the unit price is $110. At a unit price of $130, they are willing to market 2250 units. Both the demand and supply equations are known to be linear. (a) Find the demand equation.p = −.04x+180 (b) Find the supply equation.p = 0.013x+100.25 (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity units equilibrium price $
The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $170; the quantity demanded each month is 750 when the unit price is $150. The suppliers will market 750 espresso makers if the unit price is $110. At a unit price of $130, they are willing to market 2250 units. Both the demand and supply equations are known to be linear. (a) Find the demand equation.p = −.04x+180 (b) Find the supply equation.p = 0.013x+100.25 (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity units equilibrium price $
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $170; the quantity demanded each month is 750 when the unit price is $150. The suppliers will market 750 espresso makers if the unit price is $110. At a unit price of $130, they are willing to market 2250 units. Both the demand and supply equations are known to be linear.
(a) Find the demand equation.
p =
(b) Find the supply equation.
p =
(c) Find the equilibrium quantity and the equilibrium price.
p =
−.04x+180
(b) Find the supply equation.
p =
0.013x+100.25
(c) Find the equilibrium quantity and the equilibrium price.
equilibrium quantity | units | |
equilibrium price | $ |
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