The quantity demanded x of a certain brand of DVD player is 3000/week when the unit...

The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 250units. The suppliers will not market any DVD players if the unit price is $350 or lower. But at a unit price of $525, they are willing to make available 2500 units in the market. The supply equation is also known to be linear.

(a) Find the demand equation.
p(x) =

(b) Find the supply equation.
p(x) =

equilibrium quantity				units
equilibrium price			$

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Expert Solution

Colby Messinger answered 1 year ago

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