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Solve the Problem N=4p+780\quad N = - 4 p + 780

Question 134

Multiple Choice

Solve the problem.
-As the price of a product increases, the demand for that product decreases. However, at higher prices, suppliers are willing to produce greater quantities of the product. The weekly supply and demand models for a certain type of television are as follows:
Demand: N=4p+780\quad N = - 4 p + 780
Supply: N=2.6p\quad N = 2.6 p
where p\mathrm { p } is the price in dollars per television.
Find the price at which supply and demand are equal. At this price, how many televisions can be supplied and sold each week?


A) $118.18;325\$ 118.18 ; 325
B) $298.46;776\$ 298.46 ; 776
C) $118.18;307\$ 118.18 ; 307
D) $557.14;1449\$ 557.14 ; 1449

Correct Answer:

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