Mathematics, 07.10.2020 14:01, javink18
The table below gives the quantity of fancy widgets demanded and the quantity supplied for selected
prices.
(a) Find the linear equation that gives the price as a function of the quantity demanded.
(b) Find the linear equation that gives the price as a function of the quantity supplied.
(c) Use these equations to find the market equilibrium price.
Price
($)
50
60
70
80
100
Quantity Demanded (thousands)
285
235
185
135
35
Quantity
Supplied (thousands)
0
100
200
300
500
Answers: 3
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