At a price of $4.89 per pound, the supply for cherries is 16,189 pounds, and the demand is 10,391 pounds. When the price drops to $4.20 per pound, the supply decreases to 10,987 pounds and the demand increases to 12,813 pounds. Assume that the price-supply and price-demand equations are linear. What is the equilibrium quantity? Round to the nearest pound. pounds.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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At a price of $4.89 per pound, the supply for cherries is 16,189 pounds, and the demand is 10,391
pounds. When the price drops to $4.20 per pound, the supply decreases to 10,987 pounds and the
demand increases to 12,813 pounds. Assume that the price-supply and price-demand equations are
linear.
What is the equilibrium quantity? Round to the nearest pound.
pounds.
Transcribed Image Text:At a price of $4.89 per pound, the supply for cherries is 16,189 pounds, and the demand is 10,391 pounds. When the price drops to $4.20 per pound, the supply decreases to 10,987 pounds and the demand increases to 12,813 pounds. Assume that the price-supply and price-demand equations are linear. What is the equilibrium quantity? Round to the nearest pound. pounds.
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