Question

The quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $128. The quantity demanded each month is 1000 when the unit price is $98. The suppliers will market 750 espresso makers when the unit price is $64 or higher. At a unit price of $84, they are willing to market 2250 units. Both the supply and demand equations are known to be linear. (a) Find the demand equation. Your answer cannot be understood or graded. More Information (b) Find the supply equation. Your answer cannot be understood or graded. More Information (c) Find the equilibrium quantity and the equilibrium price. units

Answer 1

the demanda we know, that both demand and supply equations are linear a. The following points describe the demand equation (250 & 128) and ( 1,000 $98) , Now, the slope point form of the demand equation o P - PL 128-98 - 30 PPR 1 X-RL, 2.50-1000 750 m = -> : poff) 5.25 Hitxrlomand cure wil Fi Now, equation of the demand curve will be A P-P2m (X-XI) G- -> 1982-254*= R50) => P-128 = -15 CX-250) P-128 - 5x+ 10 >> P-(-+) X + 138 5 de mand с 2 га мосвои b Now, the points describing supply points are (750 $64), and ( 2250, $84). Now, the slope will be t orse $841 na winga * 0164 84 12 20 = 750-22501500 persht 75 -21-22 - equation of supply Now, using point-slope form (unul will be ...p- pi= m (X-X1) Scanned with CamScanner

=) P-64 = ( 4 ) (x - 750) =) P-64 = 453X - 10. 1 6,504 magis P PE 6x+54 The suptly occans pe (e) Now 'equilibrium V when demand = supply L 1x +54 Thus, t 2)x+133=675 ) ** =) - = 54-'13814. - 5 - 7ste para =) stais) 34-52 => 10:04x + 0.0133;X;= 184 =) 0.2533 X 1= 84 On Fritis.331.62 uu ts ? irom pices in puce will be run equilibrium ادرار در بے زار پر اور بازار I put x= 331.62 units in either demandt от sha R1ation1 1 tuce, p = 7/5 (331.62) + $4 . .4.42454 = $58:42! blod srp.4210U Scanned with CamScanner