A group of retailers will buy 84 televisions from a wholesaler if the price is $425 and 124 if the price is $375. The wholesaler is willing to supply 60 if the price is $360 and 140 if the price is $450. Assuming that the resulting supply and demand functions are linear, find the equilibrium point for the market. (q, p) =
A group of retailers will buy 84 televisions from a wholesaler if the price is $425 and 124 if the price is $375. The wholesaler is willing to supply 60 if the price is $360 and 140 if the price is $450. Assuming that the resulting supply and demand functions are linear, find the equilibrium point for the market. (q, p) =
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CT: Test
Problem 19CT
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A group of retailers will buy 84 televisions from a wholesaler if the price is $425 and 124 if the price is $375. The wholesaler is willing to supply 60 if the price is $360 and 140 if the price is $450. Assuming that the resulting supply and demand functions are linear, find the equilibrium point for the market.
(q, p) =
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