Question: The demand equation for the Schmidt-3000 tablet computer is 3 + 1500 = 0, where x is the quantity demanded per week and p is

The demand equation for the Schmidt-3000 tablet computer is 3 + 1500 = 0, where x is the quantity demanded per week and p is the unit price in dollars. The company will supply 300 units if the price is $600 and 600 units if the price is $800. Find the equilibrium quantity and equilibrium price for the tablet computers.

a. Write the demand equation as a function of x. That is, solve the given equation for p.

b. Write the demand equation as a function of p.

c. What is the slope of the demand equation? What does this mean in the context of the problem?

d. Express p as a function of x for the supply equation.

e. Express x as a function of p for the supply equation.

f. Find the equilibrium quantity and equilibrium price for the tablet computers. g. Graph these on the same axes.

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