You can sell 110 pet chias per week if they are marked at $1 each, but only 90 each week if they are marked at $2/chia. Your chia supplier is prepared to sell you 70 chias each week if they are marked at $1 per chia, and 150 each week if they are marked at $2 per chia. (a) Write down the associated linear demand and supply functions. demand functionq(p)= supply functionq(p)= (b) At what price (in dollars) should the chias be marked so that there is neither a surplus nor a shortage of chias? $
You can sell 110 pet chias per week if they are marked at $1 each, but only 90 each week if they are marked at $2/chia. Your chia supplier is prepared to sell you 70 chias each week if they are marked at $1 per chia, and 150 each week if they are marked at $2 per chia. (a) Write down the associated linear demand and supply functions. demand functionq(p)= supply functionq(p)= (b) At what price (in dollars) should the chias be marked so that there is neither a surplus nor a shortage of chias? $
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter3: Functions
Section3.3: More On Functions; Piecewise-defined Functions
Problem 88E
Question
You can sell 110 pet chias per week if they are marked at $1 each, but only 90 each week if they are marked at $2/chia. Your chia supplier is prepared to sell you 70 chias each week if they are marked at $1 per chia, and 150 each week if they are marked at $2 per chia.
(a)
Write down the associated linear demand and supply functions.
demand functionq(p)=
supply functionq(p)=
(b)
At what price (in dollars) should the chias be marked so that there is neither a surplus nor a shortage of chias?
$
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