A retail chain will buy 1100 cordless phones if the price is $10 each and 700 if the price is $50 . A wholesaler will supply 350 phones at $40 each and 1050 at $60 each. Assuming that the supply and demand functions are linear, find the market equilibrium point and explain what it means.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
A retail chain will buy
cordless phones if the price is
each and
if the price is
A wholesaler will supply
phones at
each and
at
each. Assuming that the supply and demand functions are linear, find the market equilibrium point and explain what it means.
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