The quantity demanded of a certain brand of DVD player is 3000/wk when the unit...
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Accounting
The quantity demanded of a certain brand of DVD player is 3000/wk when the unit price is $485. For each decrease in unit price of $40 below $485, the quantity demanded increases by 500 units. The suppliers will not market any DVD players if the unit price is $266 or lower. But at a unit price of $491, 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 =
(b) Find the supply equation.
p =
(c) Find the equilibrium quantity and price.
______units
$_____
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