A company is manufacturing a new dietary supplement pill that promotes body fat reduction (a) The company
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Question:
A company is manufacturing a new dietary supplement pill that promotes body fat reduction
(a) The company will supply 60 pills for a price of $40, and will supply 100 pills for a price of $60. Determine a linear supply function, p = S(q). for this product.
(b) The demand for this new dietary supplement pill is 50 pills at a price of $47.50 and 80 pills at a price of $32.50. Determine a linear demand function, p = D(q). for this product.
(c) Find the equilibrium price and quantity for the new dietary supplement pill.
Related Book For
Business Statistics
ISBN: 978-0321925831
3rd edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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