At a price of $60 per office chair, 150 office chairs are demanded by consumers, but at a price of $90 per office chair, only 60 office chairs are demanded. The supplier is willing to supply x office chairs for a price, in dollars, of p(x) = 0.075x + 61. (a) What is the market equilibrium quantity of office chairs? office chairs (b) What is the market equilibrium price in dollars? $
At a price of $60 per office chair, 150 office chairs are demanded by consumers, but at a price of $90 per office chair, only 60 office chairs are demanded. The supplier is willing to supply x office chairs for a price, in dollars, of p(x) = 0.075x + 61. (a) What is the market equilibrium quantity of office chairs? office chairs (b) What is the market equilibrium price in dollars? $
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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Question
At a price of $60 per office chair, 150 office chairs are demanded by consumers, but at a price of $90 per office chair, only 60 office chairs are demanded.
The supplier is willing to supply x office chairs for a price, in dollars, of
p(x) = 0.075x + 61.
(a)
What is the market equilibrium quantity of office chairs?
office chairs
(b)
What is the market equilibrium price in dollars?
$
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