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Demand refers to how much of a product or service is desired by buyers. The...

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Accounting

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Demand refers to how much of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price p. Supply refers to how much of a product suppliers are willing to produce. The quantity supplied refers to the amount of a certain good producers are willing to supply q when receiving a certain price p. Given the demand and supply functions below, find the following Demand function: p = 43072.6 - 3.489 Supply function: p = 2.189 (a) Find the price when the quantity demanded is 510. (6) Find the quantity supplied when the price is $580. (e) Find the equilibrium quantity (d) Find the equilibrium price

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