At a price of $4.67 per pound, the supply for cherries is 16,273 pounds, and the demand is 10,391 pounds. When the price drops to $4.21 per pound, the supply decreases to 10,923 pounds and the demand increases to 12,892 pounds. Assume that the price-supply and price-demand equations are linear. What is the equilibrium price? $ per pound. Round to the nearest cent.

At a price of $4.67 per pound, the supply for cherries is 16,273 pounds, and the demand is 10,391 pounds. When the price drops to $4.21 per pound, the supply decreases to 10,923 pounds and the demand increases to 12,892 pounds. Assume that the price-supply and price-demand equations are linear. What is the equilibrium price? $ per pound. Round to the nearest cent.

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

ChapterP: Prerequisites

Section: Chapter Questions

Problem 115RE: Sales Barnes & Noble had annual sales of $6.8 billion in 2013 and $6.1 billion in 2015. Use the...

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