# The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is \$485. For each decrease in unit price of \$20 below \$485, the quantity demanded increases by 250 units. The suppliers will not market any DVD players if the unit price is \$350 or lower. But at a unit price of \$525, they are willing to make available 2500 units in the market. The supply equation is also known to be linear.(a) Find the demand equation.p(x) =     (b) Find the supply equation.p(x) =     (c) Find the equilibrium quantity and the equilibrium price.equilibrium quantity        unitsequilibrium price  \$

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The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is \$485. For each decrease in unit price of \$20 below \$485, the quantity demanded increases by 250 units. The suppliers will not market any DVD players if the unit price is \$350 or lower. But at a unit price of \$525, they are willing to make available 2500 units in the market. The supply equation is also known to be linear.

(a) Find the demand equation.
p(x) =

(b) Find the supply equation.
p(x) =

(c) Find the equilibrium quantity and the equilibrium price.
 equilibrium quantity units equilibrium price \$
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Step 1

Given,

The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is \$485. For each decrease in unit price of \$20 below \$485, the quantity demanded increases by 250 units. The suppliers will not market any DVD players if the unit price is \$350 or lower. But at a unit price of \$525, they are willing to make available 2500 units in the market.

Step 2

The demand equation is the line that passes through the point help_outlineImage Transcriptionclosenegative sign represents the decrease in unit price 20 (3000, 485) with slope 250 fullscreen
Step 3

Now by using point slope form of a stra... help_outlineImage Transcriptioncloseequation of a line passing 20 (x-3000)through the point (a, b) with | slope m is y -a m(x-a) Here y is the demand and x is the quantity demanded y-485 250 fullscreen

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