The supply and demand for a computer in a store are given for two prices: for a price of $800, the demand quanity is 50 and the supply quanity 230: for a price of $50, the demand quanity is 150 and the supply quantity 150. Let a represent the quanity A. Write an equation representing the demand function B. Write an equation representing the supply function C. Find the equlibrium quantity and price
The
Let a represent the quanity
A. Write an equation representing the demand function
B. Write an equation representing the supply function
C. Find the equlibrium quantity and price
The demand curve depicts the amount of items consumers will be willing to buy at each market price. A linear demand function refers to an approach that applies the algebraic formula in computation of the demand curves without drawing a demand function graph. The supply curve depicts the amount of items producers will be willing to supply at each market price. A linear demand function refers to an approach that applies the algebraic formula for the calculation of the supply curves without drawing a supply function graph.
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