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Given the demand function D ( x )=4,8505x a) what is the highest price a consumer would pay for the commodity? b) How many units

Given the demand function D ( x )=4,850−5x

a) what is the highest price a consumer would pay for the commodity?

b) How many units would be demanded when the commodity is given away for free?

2. The supply and demand functions for a particular food product are, S(x) = 0.275x + 316.8 and D(x) = 1,340 - 1.25x, respectively.

Determine the market equilibrium price and quantity.

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