The quantity y of a product supplied in thousands is related to its price by the equation

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The quantity y of a product supplied in thousands is related to its price by the equation y = 1.5 + x, where x is price in dollars. The quantity demanded y for the same product is represented by y = 16 - 4x.

(a) Find the price at which this product is sold.

(b) Find the quantity sold at this price.

(d) If the product was priced higher than the equi- librium price, what situation would result?

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College Algebra With Modeling And Visualization

ISBN: 9780134418049

6th Edition

Authors: Gary Rockswold

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Question Posted: Jun 04, 2023 12:50 AM

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The quantity y of a product supplied in thousands is related to its price by the equation

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a The product was sold for 350 b The quantity s...View the full answer

College Algebra With Modeling And Visualization

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