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Save Suppose that the demand and supply for artificial Christmas trees is given by the functions below where p is the pr
Posted: Tue Jun 07, 2022 7:57 am
by answerhappygod
- Save Suppose That The Demand And Supply For Artificial Christmas Trees Is Given By The Functions Below Where P Is The Pr 1 (19.04 KiB) Viewed 71 times
Save Suppose that the demand and supply for artificial Christmas trees is given by the functions below where p is the price of a tree in dollars and q is the quantity of trees that are demanded/supplied in hundreds. Find the price that gives the market equilibrium price and the number of trees that will be sold/bought at this price. p=107.40-0.70q (demand function) p=0.01q² +5.16 (supply function) Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. A. The equilibrium price of $ gives a demand that is equal to a supply of hundred trees. (Simplify your answer. Type integers or simplified fractions.) OB. The equilibrium price does not exist.