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Equilibrium Price: Cell Phones Worldwide annual sales of a certain product were approximately - 7 p + 1 , 6 0 0 million products when
Equilibrium Price: Cell Phones Worldwide annual sales of a certain product were approximately million products when the wholesale price was $
a If manufacturers are prepared to supply million products per year at a wholesale price of $ what would be the equillbrium price? Round your answer to the nearest cent.
$
b The actual wholesale price was projected to be $ in the fourth quarter of Estimate the projected shortage or surplus at that price.
There is an estimated of million products.
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