Question: Points] DETAILS bmissions Used MY NOTES ASK YOUR TEACHER The demand for your college newspaper is 8,000 copies each week if the paper is given
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Points] DETAILS bmissions Used MY NOTES ASK YOUR TEACHER The demand for your college newspaper is 8,000 copies each week if the paper is given away free of charge, and drops to 7,000 each week if the charge is 10c per copy. However, the university is prepared to supply only 200 copies per week free of charge, but will supply 800 each week at 20c per copy. (a) Write down the asso iated linear demand and supply functions. (p is in dollars.) demand function q(p) = supply function q(p) = (b) At what price (in dollars) should the college newspapers be sold so that there is neither a surplus nor a shortage of college newspapers? Show My Work (Optional)
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