The concept of supply and demand is used often in
Chapter 4, Problem 4.1.81(choose chapter or problem)
The concept of supply and demand is used often in business. In general, as the unit price of a commodity increases, the demand for that commodity decreases. Also, as a commoditys unit price increases, the manufacturer normally increases the supply. The point where supply is equal to demand is called the equilibrium point. The following shows the graph of a demand equation and the graph of a supply equation for previously rented DVDs. The x-axis represents the number of DVDs in thousands, and the y-axis represents the cost of a DVD. Use this graph to answer Exercises 79 through 82.When x is greater than 6, is supply greater than demand or isdemand greater than supply?
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