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(2 points) When sold for $726.00, a certain desktop has an annual supply of 133.5 million computers and an annual demand of 151 million computers.
(2 points) When sold for $726.00, a certain desktop has an annual supply of 133.5 million computers and an annual demand of 151 million computers. When the price increases to $836.00, the annual supply increases to 155 million computers, and the demand drops to 132.5 million computers. (a) Assuming that the supply and demand equations are linear, find the supply and demand equations. Supply Equation p = Demand Equation p = (Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (in billions). The slope and y-intercept should be accurate to two decimal places). (b) Find the Equilibrium price and quantity. Equilibrium price p = Equilibrium quantity q = (Note: The equilibrium price and quantity should be accurate to two decimal places, and the equilibrium price should include a dollar sign)
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