Prices-quantities which are obtained at market equilibrium

Reference no: EM13337834

A company makes two styles of residential bar stools. The basic model has no back and is a fixed height which sells of f dollars. The other has a back, swivels and is height adjustable and sells for a dollars each. The demand and supply equations are:

Da(a,f) = 4a + 8f -35

Df(a,f) = 9a – 18f - 72

Sa(a) = 6a - 20

Sf(f) = 12f - 18

Find the prices and quantities which are obtained at market equilibrium, and the total revenue.

Reference no: EM13337834

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