The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 250 units. The suppliers will not market any DVD players if the unit price is $350 or lower. But at a unit price of $525, they are willing to make available 2500 units in the market. The supply equation is also known to be linear. (a) Find the demand equation. p(x) %3D (b) Find the supply equation. p(x) = (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity units equilibrium price %24

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.7: Direct And Inverse Variation
Problem 36PS
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The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 250
units. The suppliers will not market any DVD players if the unit price is $350 or lower. But at a unit price of $525, they are willing to make available 2500 units in the market. The supply equation is
also known to be linear.
(a) Find the demand equation.
p(x)
%3D
(b) Find the supply equation.
p(x) =
(c) Find the equilibrium quantity and the equilibrium price.
equilibrium quantity
units
equilibrium price
%24
Transcribed Image Text:The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 250 units. The suppliers will not market any DVD players if the unit price is $350 or lower. But at a unit price of $525, they are willing to make available 2500 units in the market. The supply equation is also known to be linear. (a) Find the demand equation. p(x) %3D (b) Find the supply equation. p(x) = (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity units equilibrium price %24
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