Posted on by Judy

85. Equiibrium Price You can sell 90 pet chias per week if they are marked at $1 each, but only 30 each week if they are marked at $2/chia. Your chia supplier is prepared to sell you 20 chias each week if they are marked at $1/chia, and 100 each week if they are marked at $2 per chia. a. Write down the associated linear demand and supply functions. b. At what price should the chias be marked so that there is neither a surplus nor a shortage of chias? HINT [See Example 4]

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