Solution-Write down the associated linear demand and supply

Write down the associated linear demand and supply functions

Reference no: EM131637923

Question: You can sell 90 pet chias per week if they are marked at $1 each, but only 10 each week if they are marked at $2 per chia. Your chia supplier is prepared to sell you 10 chias each week if they are marked at $1/chia, and 30 each week if they are marked at $2 per chia.

a) Write down the associated linear demand and supply functions.

b) At what price should the chias be marked so that there is neither a surplus nor a shortage of chias?

Reference no: EM131637923

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Write down the associated linear demand and supply functions

Reference no: EM131637923

Reference no: EM131637923

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