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The market price for a certain product is $5.00 per unit and occurs when 30,000 units are produced. At a price of $1.00, no units
The market price for a certain product is $5.00 per unit and occurs when 30,000 units are produced. At a price of $1.00, no units are manufactured and, at a price of $20.00 no units will be purchased. Find the supply and demand equations, assuming they are linear. Use point-slope form for the equation of a line. Give exact answers.
Supply equation: S (p) = __________?_________
Demand equation: D (p) = _________?________
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