Posted by **Jody** on Thursday, July 3, 2014 at 12:57am.

At the start of December 2001, the retail price of a 25kg bag of cornmeal was $10 in Zambia, while by the end of the month, the price had fallen to $6. The result was that one retailer reported an increase in sales from 3 bags/day to 5 bags/day. Assume that the retailer is prepared to sell 18 bags/day at $8 and 12 bags/day at $6. Obtain linear demand supply equations, and compute the retailer's equilibrium price.

## Answer this Question

## Related Questions

- microeconomics - The Consumer Price Index (CPI) for the year 2012 is 2.412 and ...
- MATH?!!? - a store sells ladders. . the retail price was a 40m percent markup ...
- Statistics - Suppose a person buys 100 shares of stock at in a company at the ...
- statistics Question 2 - Suppose a person buys 100 shares of stock at in a ...
- ALGEBRA - if a product that had a cost of rm2000 was sold with a markup ...
- math - A product that was originally priced at $2,000 had it'd price increased ...
- math - Find the retail price. List price of article = $2,150 Percentage discount...
- economics - Every year Christmas tree vendors bring tens of thousands of trees ...
- Math - Would someone please double check my answers. The retail cost of a ...
- Math - Bosley's Pet Foods buys dog kibbl for $19.50 per bag, less 40%. The store...