1. Suppose that the supply and demand for sunglasses are p= 0.8q +6 p=-1.2q +14 Where p is the price in dollars and q is the quantity in hundreds. a. Find the supply and demand (to the nearest unit) if sunglasses are sold for $7 each. Discuss the stability of the sunglasses market at this price. b. Find the supply and demand (to the nearest unit) if sunglasses are sold for $11 each. Discuss the stability of sunglasses market at this price. c. Find the equilibrium price and quantity.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
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* ? 69% O
Sun 8:24 PM
O Section 4.1 Writt x
O MATH 141 Writte
O MATH 141 Writte x
O MATH 141 Writte
A MATH 141 Writte x
O MATH 141 Writte x
O MATH 141 Writte x
b Answered: 1. Wri x
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MATH 141 Written Homework Handout (Section 4.1).pdf
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C:
Sections 4.1
1. Suppose that the supply and demand for sunglasses are
p= 0.8q +6
p=-1.2g +14
Where p is the price in dollars and q is the quantity in hundreds.
a. Find the supply and demand (to the nearest unit) if sunglasses are sold for $7 each.
Discuss the stability of the sunglasses market at this price.
b. Find the supply and demand (to the nearest unit) if sunglasses are sold for $11 each.
Discuss the stability of sunglasses market at this price.
+
c. Find the equilibrium price and quantity.
24,261
29
W
Transcribed Image Text:Chrome File Edit View History Bookmarks People Tab Window Help * ? 69% O Sun 8:24 PM O Section 4.1 Writt x O MATH 141 Writte O MATH 141 Writte x O MATH 141 Writte A MATH 141 Writte x O MATH 141 Writte x O MATH 141 Writte x b Answered: 1. Wri x + O File /Users/jessicamendez/Downloads/MATH%20141%20Written%20Homework%20Handout%20(Section%204.1).pdf MATH 141 Written Homework Handout (Section 4.1).pdf 1 / 1 C: Sections 4.1 1. Suppose that the supply and demand for sunglasses are p= 0.8q +6 p=-1.2g +14 Where p is the price in dollars and q is the quantity in hundreds. a. Find the supply and demand (to the nearest unit) if sunglasses are sold for $7 each. Discuss the stability of the sunglasses market at this price. b. Find the supply and demand (to the nearest unit) if sunglasses are sold for $11 each. Discuss the stability of sunglasses market at this price. + c. Find the equilibrium price and quantity. 24,261 29 W
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