When sold for $770.00, a certain desktop has an annual demand of 152 million computers and...

 

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When sold for $770.00, a certain desktop has an annual demand of 152 million computers and an annual supply of 133.5 million computers. When the price increases to $835.00, the demand drops to 133 million computers, and the annual supply increases to 150.5 million computers. (a) Assuming that the supply and demand equations are linear, provide equations to model the supply and demand. Demand model Supply model P= p= (Note: The equations should be in the form pmq+b where p denotes the price (in dollars) and q denotes the quantity (in millions). The slope and y-intercept should be accurate to 4 decimal places) I would suggest you do not use these rounded values above for slopes and intercepts when computing the equilibrium price and quantity below. You will round price to nearest penny and the quantity to nearest integer.) (b) Find the price and quantity at equilibrium. P= (Note: The equilibrium price should include a dollar sign and be accurate to 2 decimal places. The quantity should be rounded to the nearest whole number.) When sold for $770.00, a certain desktop has an annual demand of 152 million computers and an annual supply of 133.5 million computers. When the price increases to $835.00, the demand drops to 133 million computers, and the annual supply increases to 150.5 million computers. (a) Assuming that the supply and demand equations are linear, provide equations to model the supply and demand. Demand model Supply model P= p= (Note: The equations should be in the form pmq+b where p denotes the price (in dollars) and q denotes the quantity (in millions). The slope and y-intercept should be accurate to 4 decimal places) I would suggest you do not use these rounded values above for slopes and intercepts when computing the equilibrium price and quantity below. You will round price to nearest penny and the quantity to nearest integer.) (b) Find the price and quantity at equilibrium. P= (Note: The equilibrium price should include a dollar sign and be accurate to 2 decimal places. The quantity should be rounded to the nearest whole number.)