An important application of systems of equations arises in connection with supply and demand. As the price of a product

Question

An important application of systems of equations arises in connection with supply and demand. As the price of a product increases, the demand for that produce decreases. However,
at higher prices, suppliers are willing to produce greater quantities of the product. Suppose a chain of electronics stores sells hand-held color televisions. The weekly demand and
supply models are given as follows
Demand model:
Supply model:
where N is the number of televisions sold each week and at price p. (Note: Answer with the appropriate units.)
a) How many hand-held color televisions can be supplied at $ 160 per television?
Answer
b) How many televisions will be sold when supply and demand are equal?
Answer:
c) Find the price at which supply and demand are equal.
Answer.
N=-3p+1534
N = 2.9p

Kunduz · Accepted Answer

Click to see the answer