A store sells two brands of camping chairs. The store pays $70 for each brand A chair and $20 for each brand B chair. The research department has estimated that the weekly demand equations for these two competitive products to be the following, where p is the selling price for brand A, q is the selling price for brand B, and x and y are the average number of chairs sold per week. Complete parts (A) and (B) below. x = 521 - 3p + q y = 108 + p - 2q Demand equation for brand A Demand equation for brand B (A) Determine the demands for x and y when p = $130 and q = $100. The demand for x will be (Type a whole number.)
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Demand equation for brand A: x = 521 - 3p + q Demand equation for brand B: y = 108 + p - 2q Now, let's plug in the values of p = $130 and q = $100. For brand A: x = 521 - 3(130) + 100 x = 521 - 390 + 100 x = 131 + 100 Show more…
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