Reposting this question because the last time it wasn\'t answered right, please

Question

Reposting this question because the last time it wasn't answered right, please help

The quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $140. The quantity demanded each month is 1000 when the unit price is $110. The suppliers will market 750 espresso makers when the unit price is $64 or higher. At a unit price of $84, they are willing to market 2250 units. Both the supply and demand equations are known to be linear.

(a) Find the demand equation.
p =

(b) Find the supply equation.
p =

(c) Find the equilibrium quantity and the equilibrium price.

Explanation / Answer

a)(q1,p1)=(250,140)

(q2,p2)=(1000,110)

p -p1 =(p2-p1)/(q2-q1)   *(q-q1)

p-140=(110-140)/(1000-250) *(q-250)

p-140=-30/750 *(q-250)

p-140=-1/25 *(q-250)

p-140=(-1/25)q +10

p=(-1/25)q +150

b)(q1,p1)=(750,64)

(q2,p2)=(2250,84)

p -p1 =(p2-p1)/(q2-q1)   *(q-q1)

p-64=(84-64)/(2250-750) *(q-750)

p-64=(20)/(1500) *(q-750)

p-64=(1/75) *(q-750)

p-64=(1/75)q -10

p=(1/75)q +54

c)(-1/25)q +150=(1/75)q +54

(1/75)q +(1/25)q =96

4q/75 =96

==>q=96*75/4

==>q=1800 units

p=(-1/25)1800 +150

p=-72+150

p=78$

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