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The quantity demanded of a certain electronic device is 1000 units when the price is $665....

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Basic Math

The quantity demanded of a certain electronic device is 1000units when the price is $665. At a unit price of $640, demandincreases to 1200 units. The manufacturer will not market any ofthe device at a price of $90 or less. However for each $50 increasein price above $100, the manufacturer will market an additional1000 units. Assume that both the supply equation and the demandequation are linear.

(a) Find the supply equation.

(b) Find the demand equation

(c) Find the equilibrium price.

(d) Find the equilibrium quantity

Answer & Explanation Solved by verified expert
3.5 Ratings (600 Votes)
Given that manufacturer will not supply any device at a price of 90 And For 150 He would supply 1000 units So we have given two points 0 90 and 1000 150 Equation of    See Answer
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