You can sell 100 pet chias per week if they are marked at 1, Ask an Expert

Economics

You can sell 100 pet chias per week if they are marked at $1 each, but only 40 each week if they are marked at $2/chia. Your chia supplier is prepared to sell you 30 chias each week if they are marked at $1/chia, and 70 each week if they are marked at $2 per chia.

(a) Write down the associated linear demand and supply functions

demand function

supply function

At what price should the chias be marked so that there is neither a surplus nor a shortage of chias

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720438

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