Question: In Problems 1-3, prices p1 and p2 are in dollars and q1 and q2 are numbers of units. 1. The demand functions for two products

In Problems 1-3, prices p1 and p2 are in dollars and q1 and q2 are numbers of units.
1. The demand functions for two products are given by
q1 = 300 - 8p1 - 4p2
q2 = 400 - 5p1 - 10p2
Find the demand for each of the products if the price of the first is p1 = $10 and the price of the second is p2 = $8.
2. The demand functions for two products are given by
q1 = 900 - 9p1 + 2p2
q2 = 1200 + 6p1 -10p2
Find the demands q1 and q2 if p1 = $10 and p2 = $12.
3. Find a pair of prices p1 and p2 such that the demands for the two products in Problem 1 will be equal.

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