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
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
Related questions
Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7632b8b-cf59-4c43-8cbd-0b856253f09c%2Fd6d9fc66-d144-4b5e-9d3d-a53a4314379c%2Fyd8cjed.png&w=3840&q=75)
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
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 4 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Algebra for College Students](https://www.bartleby.com/isbn_cover_images/9781285195780/9781285195780_smallCoverImage.gif)
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781305115545/9781305115545_smallCoverImage.gif)
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
![Algebra for College Students](https://www.bartleby.com/isbn_cover_images/9781285195780/9781285195780_smallCoverImage.gif)
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781305115545/9781305115545_smallCoverImage.gif)
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
![Algebra and Trigonometry (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305071742/9781305071742_smallCoverImage.gif)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
![Elementary Geometry For College Students, 7e](https://www.bartleby.com/isbn_cover_images/9781337614085/9781337614085_smallCoverImage.jpg)
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
![Intermediate Algebra](https://www.bartleby.com/isbn_cover_images/9780998625720/9780998625720_smallCoverImage.gif)