The supply and demand equations for a clothing product in a particular week are given by p = 0.8q+4 Supply Equation p = -3.2q+36 Demand Equation where is the price in dollars and q is the quantity in hundreds. Find the equilibrium price and quantity. Note: The format of your answer for the price must be written as an integer with two decimals (cents) with a $ sign. Examples of this format is $8.35 or $4.00, and the format for the quantity must be written in only integer, for example 220. Equilibrium Price: p= Equilibrium quantity: q = A/ A

The supply and demand equations for a clothing product in a particular week are given by p = 0.8q+4 Supply Equation p = -3.2q+36 Demand Equation where is the price in dollars and q is the quantity in hundreds. Find the equilibrium price and quantity. Note: The format of your answer for the price must be written as an integer with two decimals (cents) with a $ sign. Examples of this format is $8.35 or $4.00, and the format for the quantity must be written in only integer, for example 220. Equilibrium Price: p= Equilibrium quantity: q = A/ A

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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