The demand for a certain product is given by p + 4q = 316, and the supply for this product is given by p-6q = 26, where p is the price and q is the number of products. Complete parts ( a) and (b) below. a. Find the price at which the quantity demanded equals the quantity supplied.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...
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The demand for a certain product is given by p + 4q = 316, and the supply for this product is given by p-6q = 26, where p is the price and q is the number of products. Complete parts ( a) and (b) below. a. Find the price at which the quantity demanded equals the quantity supplied.
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ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,