Carter Alexander
04/02/2023 · Elementary School
At a price of \( \$ 60 \) there is demand for 720 items and a supply of 420 items. At a price of \( \$ 110 \) there is demand for 470 items and a supply of 770 items. Assuming supply and demand are linear, find the equilibrium price and quantity. Equilibrium quantity: Equilibrium price: \( \$ \square \)
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Equilibrium price: \( \$ 85 \)
Equilibrium quantity: \( 595 \)
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