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,
supply: 324000 = 6p ; p = 324000/6 = 54000
demand: 324000 = 69p ; p = 324000/69 = 4695.65 ≈ 4696
Get total lengths by multiplying:
10 x 12.6 = 126
6 x 16.1 = 96.6
Add the total lengths together and divide by 16:
126 + 96.6 = 222.6
222.6 / 16 = 13.9125
Rounded to 2 decimal places = 13.91
answer: 13.91
Answer:
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Step-by-step explanation:
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