When sold for $790.00, a certain desktop has an annual supply of 129.5 million computers and an annual demand of 155.5 millioncomputers. When the price increases to $865.00, the annual supply increases to 147.5 million computers, and the demand drops to134.5 million computers.NOTE: Round slope and vertical intercept to 4 decimal places and use those rounded values to the end.(a) Assuming that the supply and demand equations are linear, find the supply and demand equations.Supply Equation p =Demand Equation p =esc(Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (inbillions). The slope and y-intercept should be accurate to 4 decimal places).(b) Find the Equilibrium price and quantity.Equilibrium price p =Equilibrium quantity q =9-F2A(Note: The equilibrium price should be accurate to 2 decimal places and quantity should be rounded to the nearest whole number,and the equilibrium price should include a dollar sign properly placed).0 F3F4e tvMacBook ProF7► 11Instructions ^F10FIO

Given : P1=$790 S1=129.5 million D1=155.5 million P2=$865 S2=147.5 million D2=134.5 million To…

When sold for $790.00, a certain desktop has an annual supply of 129.5 million computers and an annual demand of 155.5 million computers. When the price increases to $865.00, the annual supply increases to 147.5 million computers, and the demand drops to 134.5 million computers. NOTE: Round slope and vertical intercept to 4 decimal places and use those rounded values to the end. (a) Assuming that the supply and demand equations are linear, find the supply and demand equations. Supply Equation p = Demand Equation p = 9- 9. (Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (in billions). The slope and y-intercept should be accurate to 4 decimal places). (b) Find the Equilibrium price and quantity. Equilibrium price p = 2

When sold for $790.00, a certain desktop has an annual supply of 129.5 million computers and an annual demand of 155.5 million computers. When the price increases to $865.00, the annual supply increases to 147.5 million computers, and the demand drops to 134.5 million computers. NOTE: Round slope and vertical intercept to 4 decimal places and use those rounded values to the end. (a) Assuming that the supply and demand equations are linear, find the supply and demand equations. Supply Equation p = Demand Equation p = 9- 9. (Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (in billions). The slope and y-intercept should be accurate to 4 decimal places). (b) Find the Equilibrium price and quantity. Equilibrium price p = 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

When sold for $790.00, a certain desktop has an annual supply of 129.5 million computers and an annual demand of 155.5 million
computers. When the price increases to $865.00, the annual supply increases to 147.5 million computers, and the demand drops to
134.5 million computers.
NOTE: Round slope and vertical intercept to 4 decimal places and use those rounded values to the end.
(a) Assuming that the supply and demand equations are linear, find the supply and demand equations.
Supply Equation p =
Demand Equation p =
esc
(Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (in
billions). The slope and y-intercept should be accurate to 4 decimal places).
(b) Find the Equilibrium price and quantity.
Equilibrium price p =
Equilibrium quantity q =
9-
F2
A
(Note: The equilibrium price should be accurate to 2 decimal places and quantity should be rounded to the nearest whole number,
and the equilibrium price should include a dollar sign properly placed).
0 F3
F4
e tv
MacBook Pro
F7
► 11
Instructions ^
F10
FI
O

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