Question 1

Suppose that consumers will demand 800 units of a product when the price is $ 10 per unit, and 1000 units when the price is $ 8 per unit

a. Find the demand equation for the product assuming that price p and quantity q are linearly related.

b. Find the price per unit when 200 units are demanded.

c. Find the quantity demanded when the price is $ 5.

Question 2

Suppose that a manufacturer will place 1000 units of a product on the market when the price is $ 10 per unit and 1400 units when the price is $ 12 per unit.

a. Find the supply equation for the product assuming the price p and quantity q are linearly related.

b. Find the price per unit when 250 units are supplied.

c. Find the quantity supplied when the price is $ 14.

Note: I needed answer in text and 100% correct answer