Asked by Jody

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.
There are no human answers yet.
There are no AI answers yet. The ability to request AI answers is coming soon!