Find the market equilibrium point for the following demand and supply functions. p = -49 + 328 p = 69 + 5 Demand: Supply: (q, p) (a, p) = (

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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Find the market equilibrium point for the following demand and supply functions.
p = -4g + 328
p = 6q + 5
Demand:
Supply:
(q, p) =
Transcribed Image Text:Find the market equilibrium point for the following demand and supply functions. p = -4g + 328 p = 6q + 5 Demand: Supply: (q, p) =
Suppose a certain home improvement outlet knows that the monthly demand for framing studs is 2,500 when the price is $5.00 each but that the demand is 3,900 when the price is $4.44 each. Assuming that the
demand function is linear, write its equation. Usep for price (in dollars) and q for quantity.
Transcribed Image Text:Suppose a certain home improvement outlet knows that the monthly demand for framing studs is 2,500 when the price is $5.00 each but that the demand is 3,900 when the price is $4.44 each. Assuming that the demand function is linear, write its equation. Usep for price (in dollars) and q for quantity.
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