A group of retailers will buy 120 televisions from a wholesaler
if the price is $375...
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A group of retailers will buy 120 televisions from a wholesalerif the price is $375 and 160 if the price is $325. The wholesaleris willing to supply 88 if the price is $320 and 168 if the priceis $410. Assuming the resulting supply and demand functions arelinear, find the equilibrium point for the market. Find (q,p).
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Let the demand and the supply equations be y dp apb and y sp cpd respectively where p is the price of atelevisionSince there is a demand for 120 televisions from a wholesaler
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