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 500 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 2000 units in the market. The supply equation is also known to be linear. (a) Find the demand equation. p(x) = (b) Find the supply equation. p(x) = (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity = equilibrium price =
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 500 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 2000 units in the market. The supply equation is also known to be linear. (a) Find the demand equation. p(x) = (b) Find the supply equation. p(x) = (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity = equilibrium price =
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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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 500 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 2000 units in the market. The supply equation is also known to be linear.
(a) Find the demand equation.
p(x) =
(b) Find the supply equation.
p(x) =
(c) Find the equilibrium quantity and the equilibrium price.
p(x) =
(b) Find the supply equation.
p(x) =
(c) Find the equilibrium quantity and the equilibrium price.
equilibrium quantity =
equilibrium price =
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