The quantity demanded of a DVD player is 3000 when the price is \$485. For each decrease in price of \$20, the quantity demanded increases by 250 units....
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The quantity demanded of a DVD player is 3000 when the price is \$485. For each decrease in price of \$20, the

quantity demanded increases by 250 units. The suppliers of the DVD player will not supply any units if the unit price is \$300 or lower, but at a unit price of \$525, they will make available 2500 units on the market. Assume the supply and demand functions are both linear.

How can I find the demand equation, supply equation and the market equilibrium ?

a) Demand equation: 25p +2q =18,125 b) supply... View the full answer

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