The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 250 units. The suppliers will not market any DVD players if the unit price is $300 or lower. But at a unit price of $525, they are willing to make available 2500 units in the market. The supply equation is also known to be linear.

(a) Find the demand equation.

b) Find the supply equation.

c) Find the equilibrium quantity and the equilibrium price.

Answer rating: 100% (QA)

Let the quantity demand be x Let Demand Dx a Point 3000485 is a p... View the full answer