Producers will make 2000 refrigerators available when the unit price is $420. At a unit price of $460, 6000 refrigerators will be marketed. Find the equation relating the unit price p of a refrigerator to the quantity supplied x if the equation is known to be linear.
How many refrigerators will be marketed when the unit price is $500?
At what price will suppliers be unwilling to market refrigerators?
At a unit price of $450, the quantity demanded of a certain commodity is 75 pounds. If the unit price increases to $580, the quantity demanded decreases by 13 pounds. Find the demand equation (assuming it is linear) where p is the unit price and x is the quantity demanded for this commodity in pounds.
At what price are no consumers willing to buy this commodity?
According to the above model, how many pounds of this commodity would consumers take if it was free?
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