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Unformatted text preview: independent consistent . (b) Inﬁnitely many solutions. In this case, we call the system (1) dependent consis-tent . (c) No solution. In this case, we call the system (1) inconsistent . Exercise 1. At $0.6 per bottle, the daily supply for mike is 450 bottles, and the daily demand is 570 bottles. When the prices is raised to $0.75 per bottle, the daily supply increases to 600 bottles, and the daily demand decreases to 495 bottles. Assume that the supply and the demand equation are linear. Find the equilibrium. 3...
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