The supply for a certain commodity is linear and determined to be [p=0.005 n+12] whereas the demand

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The supply for a certain commodity is linear and determined to be

\[p=0.005 n+12\]

whereas the demand is linear with

\[p=150-0.01 n\]

where $p$ is the price and $n$ is the number of items. What is the equilibrium point for \((p, n) ?

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Nature Of Mathematics

ISBN: 9781133947257

13th Edition

Authors: Karl J. Smith

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Question Posted: Feb 08, 2024 06:02 AM

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The supply for a certain commodity is linear and determined to be [p=0.005 n+12] whereas the demand

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The equilibrium point p n is the point where supply equals demand In other words ...View the full answer

Nature Of Mathematics

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