Answered

Get the information you need quickly and easily with IDNLearn.com. Our experts provide timely and accurate responses to help you navigate any topic or issue with confidence.

a) How many hand-held color televisions can be sold at $ 400 per television?b) How many televisions will be sold when supply and demand are equal?c) Find the price at which supply and demand are equal.

A How Many Handheld Color Televisions Can Be Sold At 400 Per Televisionb How Many Televisions Will Be Sold When Supply And Demand Are Equalc Find The Price At W class=

Sagot :

a) Since we are interested in the number of TVs that can be sold at $400, we need to use the Demand model equation and set p=400; thus,

[tex]\begin{gathered} p=400 \\ \Rightarrow N=-7\cdot400+2820=20 \\ \Rightarrow N=20 \end{gathered}[/tex]

The answer to part a) is 20 TVs per week.

b) Set N=N, then

[tex]\begin{gathered} N=N \\ \Rightarrow-7p+2820=2.4p \\ \Rightarrow9.4p=2820 \\ \Rightarrow p=\frac{2820}{9.4}=300 \\ \Rightarrow p=300 \end{gathered}[/tex]

Therefore, using p=300 and solving for N,

[tex]\begin{gathered} \Rightarrow N=2.4\cdot300=720 \\ \Rightarrow N=720 \end{gathered}[/tex]

The answer to part b) is 720 TVs per week.

c) In part b), we found that when supply and demand are equal, p=300. Thus, the answer to part c) is $300

We greatly appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. Find reliable answers at IDNLearn.com. Thanks for stopping by, and come back for more trustworthy solutions.