The demand equation for the Drake GPS Navigator is x + 4p − 1070 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation x − 19p + 1000 = 0, where x is the quantity, the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators. (a) equilibrium quantity= units (b) equilibrium price $=
The demand equation for the Drake GPS Navigator is x + 4p − 1070 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation x − 19p + 1000 = 0, where x is the quantity, the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators. (a) equilibrium quantity= units (b) equilibrium price $=
Chapter5: Supply, Demand, And Price: Applications
Section5.7: Application 7: Why Do Colleges Use Gpa,s Actss, And Sats, For Purposes Of Admission?
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Subject: Economics
1.) The
x − 19p + 1000 = 0, where x is the quantity, the supplier will make available in the market each week when the wholesale price is p dollars each. Find the
(a) equilibrium quantity= units
(b) equilibrium price $=
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