(c) The demand for watches is given by p = 7000 – 2q dollars, and the supply of watches is given byp = 0.01q² + 2q + 1000 dollars, where q is the number of watches demanded and supplied when the price per watch is p dollars. Based on the information provided, calculate the equilibrium quantity and the equilibrium price for watches. %3D
(c) The demand for watches is given by p = 7000 – 2q dollars, and the supply of watches is given byp = 0.01q² + 2q + 1000 dollars, where q is the number of watches demanded and supplied when the price per watch is p dollars. Based on the information provided, calculate the equilibrium quantity and the equilibrium price for watches. %3D
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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