The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $180; the quantity demanded each month is 500 when the unit price is $170. The suppliers will market 750 espresso makers if the unit price is $100. At a unit price of $120, 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. equilibrium quantity units equilibrium price $
The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $180; the quantity demanded each month is 500 when the unit price is $170. The suppliers will market 750 espresso makers if the unit price is $100. At a unit price of $120, 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. equilibrium quantity units equilibrium price $
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $180; the quantity demanded each month is 500 when the unit price is $170. The suppliers will market 750 espresso makers if the unit price is $100. At a unit price of $120, 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 =
(b) Find the supply equation.
p =
(c) Find the equilibrium quantity and the equilibrium price.
| equilibrium quantity | units | |
| equilibrium price | $ |
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