Write down the associated linear demand and supply functions

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You can sell 100 pet chias per week if they are marked at $1 each, but only 40 each week if they are marked at $2/chia. Your chia supplier is prepared to sell you 30 chias each week if they are marked at $1/chia, and 70 each week if they are marked at $2 per chia.

(a) Write down the associated linear demand and supply functions

demand function

supply function

At what price should the chias be marked so that there is neither a surplus nor a shortage of chias

Reference no: EM131004695

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