Question 1 At a price of $90 there is demand for 880 items and a supply of 540 items. At a price of $160 there is demand for 600 items and a supply of 960 items. Assuming supply and demand are linear, find the equilibrium price and ouantity

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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Question 1
At a price of $90 there is demand for 880 items and a supply of 540 items. At a price of $160 there
is demand for 600 items and a supply of 960 items. Assuming supply and demand are linear, find
the equilibrium price and quantity.
Transcribed Image Text:Question 1 At a price of $90 there is demand for 880 items and a supply of 540 items. At a price of $160 there is demand for 600 items and a supply of 960 items. Assuming supply and demand are linear, find the equilibrium price and quantity.
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