On August 24, Edward Charles offered to sell his 1967 Chevy Corvette Convertible for $150,000 to Mark Anderson. Anderson offered
1 answer:
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Answer:
Equilibrium is the point of the interaction between the demand and supply curves.
The given graph given from the question is attached below (Image 1-2)
The solution is attached in image 3-4
1) let P represent Price, and since the dependency is linear, the supply equation will take the following form:
A) Y- =
⇒ Y - 1,000 =
⇒ Y - 1,000 =
⇒ Y =
⇒ Y = , therefore,
P =
B) When Y = 1,130, the price would be:
⇒P =
⇒ P =
Therefore:
P = $194
See the link below for more supply related questions:
brainly.com/question/2822773