Suppose that the supply function for walnuts is p = S(q) = 0.25q + 3.6, where p
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Suppose that the supply function for walnuts is p = S(q) = 0.25q + 3.6, where p is the price in dollars per pound and q is the quantity in bushels. Suppose also that the equilibrium price is $5.85, and the demand is 4 bushels when the price is $7.60. Find an equation for the demand function, assuming it is linear.
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Use the supply function to find the equilibrium qu...View the full answer
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Gabriela Rosalía Castro
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