What is the selling price of the goods

Assignment Help Managerial Accounting

Reference no: EM132821981

Question - As a managerial economist you are confronted with the following system of demand equation below;

y = 6x +530

y = -8x +740

Identify the supply and demand equations from the models given above and give technical reasons for your answer.

Solve for the coordinates of the intersection point which is the equilibrium of demand and supply curves, what economic interpretation can you give to these coordinates.

What is the selling price of the goods that a supplier is willing to sell at the equilibrium point, if the price of the item is X Kwachas.

Find the amount of goods demanded that a consumer is willing to demand at the equilibrium point.

Reference no: EM132821981

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