Worldwide quarterly sales of a brand of cell phones were approximately q = - p + 126 million phones when the wholesale price was $p. (a) If the cellphone company was prepared to supply q = 9p - 354 million phones per quarter at a wholesale price of $p, what would have been the equilibrium price? $ 48 Correct: Your answer is correct. (b) The actual wholesale price was $43 in the fourth quarter of 2004. Estimate the projected shortage or surplus at that price. HINT [See Example 4.] There is an estimated Correct: Your answer is correct. of Incorrect: Your answer is incorrect. million phones.
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