5.1 In many applications ofeconomics, as the price of an item goesup, demand for the item goes down and supply of the item goes up. The price where supply and demand are equal is called the equilibriumprice, and the resulting supply or demand is called the equilibrium supply or equilibrium demand. Work Exercises113-118 in order.

113) Suppose the demand and price for a certain model of electric can opener are related by p equals 24 minus four thirds q

p=2443q, where p isprice, indollars, and q isdemand, in appropriate units. Find the price when the demand is at each level.

(a) 0 units

(b) 3

3 units

(c) 6

6 units

(a) Use p equals 24 minus four thirds q

p=2443q. When the demand is at 0units, the price is $

nothing

.

(Simplify your answer.Type an integer or a simplifiedfraction.)