The quantity demanded x of a certain brand of DVDplayer is 3000/week when the unit price p is $485. Foreach decrease in unit price of $20 below $485, the quantitydemanded increases by 250units. The suppliers will not market anyDVD players if the unit price is $350 or lower. But at a unit priceof $525, they are willing to make available 2500 units in themarket. The supply equation is also known to be linear.
(a) Find the demand equation.
p(x) =Â Â
(b) Find the supply equation.
p(x) =Â Â
(c) Find the equilibrium quantity and the equilibrium price.
| equilibrium quantity | Â Â Â Â | | | units |
| equilibrium price | | | $ | |
