Assume That the Demand Equation for Exercise Watches, Such as the Fitbit

question 114

Essay

Assume that the demand equation for exercise watches, such as the Fitbit, is Q^D = 2,200 - 15P and the supply equation is Q^S = 15P - 800. Calculate the equilibrium price and equilibrium quantity in this market.

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Definitions:

Rights Warning

Typically refers to the Miranda warning, a notification given by police in the U.S. to criminal suspects in police custody, advising them of their right to silence and legal counsel.

Reasonableness

A standard of fairness and rational behavior expected in legal and contractual relationships.

Presumed Innocent

The principle that an individual is considered innocent until proven guilty in a court of law.

Commercial Property

Real estate property that is used for business activities, such as offices, retail spaces, warehouses, and industrial buildings.