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The quantity demanded of a certain brand of DVD player is 3000/wk when the unit...

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Accounting

The quantity demanded of a certain brand of DVD player is 3000/wk when the unit price is $485. For each decrease in unit price of $40 below $485, the quantity demanded increases by 500 units. The suppliers will not market any DVD players if the unit price is $266 or lower. But at a unit price of $491, they are willing to make available 2500 units in the market. The supply equation is also known to be linear.

(a) Find the demand equation.

p =

(b) Find the supply equation.

p =

(c) Find the equilibrium quantity and price.

______units

$_____

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