prodict the weekly supply if the market price equals s25 per unit
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Market equilibrium: In a free-enterprise (supply and demand) economy, the amount buyers are willing to pay for an item and the number of these items manufacturers are willing to produce depend on the price of the item. As the price increases, demand for the item decreases since buyers are less willing to pay the higher price. On the other hand, an increase in price increases the supply of the item since manufacturers are now more willing to supply it. When the supply and demand curves are graphed, their point of intersection is called the market equilibrium for the item. The weekly demand for organically grown carrots (in thousands of pounds) is related to the price per pound by the equation At this market price, the amount that growers are willing to supply is modeled by the equation