## Question

# The demand function for a certain product is given by p = 3000 2x + 100 (0 x 10) where x (measured in units

The demand function for a certain product is given by p = 3000 2x + 100 (0 x 10) where x (measured in units of a thousand) is the quantity demanded per week and p is the unit price in dollars. Sketch the graph of the demand function. What is the price that corresponds to a quantity demanded of 10,000 units? Exercise 2.7.8 A certain manufacturer has determined that the weekly demand and supply functions for their product is given by P(q) = 144-q 1 p(q)=48+ 29 respectively, where p is measured in dollars and q is measured in units of a thousand. Find the equilibrium point.

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