A company manufactures and sells video games. A survey of video game stores indicated that at a price of $69 each, the demand wo
uld be 200 games, and at a price of $39 each, the demand would be 1,100 games. If a linear relationship between price and demand exists, which of the following equations models the price-demand relationship? (Let x represent the price per video game and y represent the demand.)
(answers are in the snip)
Answer: If the equilibrium is such that only 12000 units are sold for $27, then the total earnings from the given scenario is $324,000. The supply equation would then be,
