Find the linear demand equation for this market. Explain what the slope tells us about this...

   

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Find the linear demand equation for this market. Explain what the slope tells us about this market. What range of prices will the company want to charge in order to sell their product? Find the linear supply equation for this market. Explain what the slope tells us about this market. Find the market equilibrium price and quantity. Supply Price Quantity $4.50 6 $6.00 Demand 8 Price Quantity $11 4 $8.50 6 A company makes different types of gift baskets. The holiday basket includes 30 different items and requires 4 labor hours to assemble. The corporate basket includes 10 different items and requires 8 labor hours to assemble. Lastly, the get-well basket includes 20 items and requires 2 labor hours to assemble. Each holiday basket sells for $50, each corporate basket for $100 and each get-well basket for $50 each. The company has 4400 items for the baskets, 1120 total labor hours available, and would like to bring in $15,500 in revenue. How many of each basket should the company make? Find the linear demand equation for this market. Explain what the slope tells us about this market. What range of prices will the company want to charge in order to sell their product? Find the linear supply equation for this market. Explain what the slope tells us about this market. Find the market equilibrium price and quantity. Supply Price Quantity $4.50 6 $6.00 Demand 8 Price Quantity $11 4 $8.50 6 A company makes different types of gift baskets. The holiday basket includes 30 different items and requires 4 labor hours to assemble. The corporate basket includes 10 different items and requires 8 labor hours to assemble. Lastly, the get-well basket includes 20 items and requires 2 labor hours to assemble. Each holiday basket sells for $50, each corporate basket for $100 and each get-well basket for $50 each. The company has 4400 items for the baskets, 1120 total labor hours available, and would like to bring in $15,500 in revenue. How many of each basket should the company make?

Answer rating: 100% (QA)

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