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Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 4E
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A group of retailers will buy 76 televisions from a wholesaler if the price is $375 and 116 if the price is $325. The wholesaler is willing to supply 52 if the price is $310 and 132 if the price is $400. Assuming that the resulting supply and demand functions are linear, find
the equilibrium point for the market.
(9, p) =
Transcribed Image Text:A group of retailers will buy 76 televisions from a wholesaler if the price is $375 and 116 if the price is $325. The wholesaler is willing to supply 52 if the price is $310 and 132 if the price is $400. Assuming that the resulting supply and demand functions are linear, find the equilibrium point for the market. (9, p) =
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