Supply and Demand The table below gives the quantity of graphing calculators demanded and the quantity supplied for selected prices.
a. Find the linear equation that gives the price as a function of the quantity demanded.
b. Find the linear equation that gives the price as a function of the quantity supplied.
c. Use these equations to find the market equilibrium price.
Price ($) | Quantity Demanded (thousands) | Quantity Supplied (thousands) |
50 | 210 | 0 |
60 | 190 | 40 |
70 | 170 | 80 |
80 | 150 | 120 |
100 | 110 | 200 |
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