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An important application of systems of equations arises in connection with supply and demand. As the price of a product increases, the demand for that
An important application of systems of equations arises in connection with supply and demand. As the price of a product increases, the demand for that produce decreases. However, at higher prices, suppliers are willing to produce greater quantities of the product. Suppose a chain of electronics stores sells hand-held color televisions. The weekly demand and supply models are given as follows Demand model: Supply model: N=6p 2976N=3.3p where N is the number of televisions sold each week and at price p . (Note: Answer with the appropriate units.) a) How many hand-held color televisions can be supplied at $ 250 per television? Answer: b) How many televisions will be sold when supply and demand are equal? Answer: c) Find the price at which supply and demand are equal
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