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In: Advanced Math

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price...

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $135. The quantity demanded each month is 1000 when the unit price is $105. The suppliers will market 700 espresso makers when the unit price is $66. At a unit price of $96, they are willing to market 2200 units. Both the supply and demand equations are known to be linear.

(a) Find the demand equation.
p =  



(b) Find the supply equation.  
p =  



(c) Find the equilibrium quantity and the equilibrium price.

units
$

Solutions

Expert Solution

Given data:

the quantity demanded x each month of russo espresso makers=250

unit price=135

each month demand=1000

Colby Messinger answered 1 year ago
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