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The quantity demanded x of a certain brand of DVD player is3000/week when the unit price p is $485. For each decreasein unit price of $20 below $485, the quantity demanded increases by250 units. The suppliers will not market any DVD players if theunit price is $300 or lower. But at a unit price of $525, they arewilling to make available 2500 units in the market. The supplyequation is also known to be linear.
(a) Find the demand equation.
b)Find the supply equation.
c) Find the equilibrium quantity and the equilibriumprice.
The quantity demanded x of a certain brand of DVD player is3000/week when the unit price p is $485. For each decreasein unit price of $20 below $485, the quantity demanded increases by250 units. The suppliers will not market any DVD players if theunit price is $300 or lower. But at a unit price of $525, they arewilling to make available 2500 units in the market. The supplyequation is also known to be linear.
(a) Find the demand equation.
c) Find the equilibrium quantity and the equilibriumprice.
Patrina SchowalterLv2
16 Jul 2019