An important application of systems of equations arises inconnection with supply and demand. As the price of a productincreases, the demand for that product decreases. However, athigher prices, suppliers are willing to produce greater quantities ofthe product. Exercises 97–98 involve supply and demand.97. A chain of electronics stores sells hand-held colortelevisions. The weekly demand and supply models aregiven as follows:Number soldDemand modelper weekN = -5p + 750Price of televisionNumber supplied tothe chain per week N = 2.5p.1apow hjddnsa. How many hand-held color televisions can be sold andsupplied at $120 per television?b. Find the price at which supply and demand are equal. Atthis price, how many televisions can be supplied and soldeach week?

We have, the demand function given as N=-5p+750 ⋯⋯1 Where N is number of items sold per week…

Answered: An important application of systems of…

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.3: The Natural Exponential Function

Problem 42E

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