A retail chain will buy 700 cordless phones if the price is $40 each and 100 if the price is $70 A wholesaler wil supply 1050 phones at $50 each and 1400 at 560 each Assuming that the supply and demand functions are linear, find the market equilibrium point and explain what it means.. Market equilbrum occurs when the number of units is and the price is $ per unit CIO

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