4. Market research of a product shows that when the price is $2, the demand is 44 units, while when the price is $10, the demand is only 20 units. At $2, a company is willing to supply 20 units into the market, while at $10, it is willing to supply 60 units. a. Find the Demand equation. b. Find the Supply equation. Find the equilibrium level of output and price. С.
4. Market research of a product shows that when the price is $2, the demand is 44 units, while when the price is $10, the demand is only 20 units. At $2, a company is willing to supply 20 units into the market, while at $10, it is willing to supply 60 units. a. Find the Demand equation. b. Find the Supply equation. Find the equilibrium level of output and price. С.
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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Transcribed Image Text:4. Market research of a product shows that when the price is $2, the demand is 44 units, while
when the price is $10, the demand is only 20 units. At $2, a company is willing to supply 20
units into the market, while at $10, it is willing to supply 60 units.
a. Find the Demand equation.
b. Find the Supply equation.
Find the equilibrium level of output and price.
С.
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