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In a small town it has been discovered that the relationship between the number of radios demanded varies linearly with its price. When the price per radio was $15, 1000 radios were demanded; when the price was $30, 700 radios were demanded.
(a) Determine the price per radio when 500 radios were demanded,
(b) above what price will the demand be zero?
(c) Why isn t the demand infinite when the price is zero?
The reasearch topic can be about trade, commodities, demand or supply, elasticities, health issues, monetary issues etc. Also, can be about the markets in your town or country that you leave.
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