Noxin Electronics has investigated the feasibility of introducing a new line of magnetic tape. The study shows
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Noxin Electronics has investigated the feasibility of introducing a new line of magnetic tape. The study shows that both supply and demand are linear. The supply can increase from 1,000 items at \(\$ 2\) each to 5,000 units at \(\$ 4\) each. The demand ranges from 1,000 items at \(\$ 4\) to 7,000 at \(\$ 3\). What is the equilibrium point of this supply-and-demand system?
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