on is D(x) = 60 - 0.45x and the supply equation is S(x) = 0.15x+17, find the equilibrium price.

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter4: Markets In Action
Section: Chapter Questions
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QUESTION 3
If the demand equation is D(x) = 60 - 0.45x and the supply equation is S(x) = 0.15x+17, find the equilibrium price.
Transcribed Image Text:QUESTION 3 If the demand equation is D(x) = 60 - 0.45x and the supply equation is S(x) = 0.15x+17, find the equilibrium price.
QUESTION 4
If the demand equation for an item is D(x) = -3.0x + 680 and a supplier is willing to supply 80 items at $700 per item, or 150 items at $2400 per item, find the equilibrium quantity,
assuming linear supply and demand models.
QUESTION 5
values below
Transcribed Image Text:QUESTION 4 If the demand equation for an item is D(x) = -3.0x + 680 and a supplier is willing to supply 80 items at $700 per item, or 150 items at $2400 per item, find the equilibrium quantity, assuming linear supply and demand models. QUESTION 5 values below
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