You can sell 110 pet chias per week if they are marked at $1 each, but only 50 each week if they are marked at $2/chia. Your chia supplier is prepared to sell you 50 chias each week if they are marked at $1/chia, and 110 each week if they are marked at $2 per chia. (a) Write down the associated linear demand and supply functions. demand function q(p) = supply function q(p) = (b) At what price should the chias be marked so that there is neither a surplus nor a shortage of chias? HINT [See Example 4.] $
