Example. The lowest price at which an office equipment is available in the market is Php7,200. When the price is Php8,500, buyers have 900 units available to them. Find the supply function assuming that it is linear.
15. A manufacturer that produces a computer headset sells 400 units when the unit price is Php1,200. It has determined that with a Php80 reduction in the unit price, 120 more headsets will be sold. Find the demand function assuming that it is linear.
25. Suppose that the demand for video rentals per week is given by D ( x ) = 4.5 – 0. 25 x and the supply of videos by the local video store per week is S ( x ) = – 3 + 0. 5 x . Calculate the equilibrium price and quantity in this market.