At a price of $110 there is demand for 1645 items and a supply of 880 items. At a price of $210 there is demand for 945 items and a supply of 1680 items. Assuming supply and demand are linear, find the equilibrium price and quantity.

answer: 5000

step-by-step explanation:

correct

step-by-step explanation:

6/20

step-by-step explanation:

step-by-step explanation:

let's assume

number of candles set =x

price of of x candles =p(x)

we are given

a candle maker prices one set of scented candles at $10 and sells an average of 200 sets each week

so, we get point as (200,10)

he finds that when he reduces the price by $1, he then sells 50 more candle sets each week

so, we can find slope

now, we can use point slope form of line

now, we can plug values

we can use point

and find b

now, we can plug it back

and we get

now, we can find revenue

we know that

revenue = price*quantity

so, we get