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Advanced MathQ&A LibraryThe quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $170; the quantity demanded each month is 750 when the unit price is $150. The suppliers will market 750 espresso makers if the unit price is $110. At a unit price of $130, they are willing to market 2250 units. Both the demand and supply equations are known to be linear. (a) Find the demand equation.p = −.04x+180 (b) Find the supply equation.p = 0.013x+100.25 (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity units equilibrium price $Start your trial now! First week only $4.99!*arrow_forward*

Question

The quantity demanded *x* each month of Russo Espresso Makers is 250 when the unit price *p* is $170; the quantity demanded each month is 750 when the unit price is $150. The suppliers will market 750 espresso makers if the unit price is $110. At a unit price of $130, they are willing to market 2250 units. Both the demand and supply equations are known to be linear.

(a) Find the demand equation.

*p* =

(b) Find the supply equation.

*p* =

(c) Find the equilibrium quantity and the equilibrium price.

−.04x+180

(b) Find the supply equation.

0.013x+100.25

(c) Find the equilibrium quantity and the equilibrium price.

equilibrium quantity | units | |

equilibrium price | $ |

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