anonymous
  • anonymous
Find the equilibrium point of the demand and supply equations. (The equilibrium point is the price p and number of units x that satisfy both the demand and supply equations.) Demand Supply p = 133 – 0.09x p = 0.9x – 560 A. (700, 70) B. (400, 97) C. (857, 211.3) D. (600, 79) E. inconsistent
Mathematics
katieb
  • katieb
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radar
  • radar
A
radar
  • radar
If you want to know why let me know/
anonymous
  • anonymous
Yes I would please! This is a practice problem and I probably will have more on my test ...

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radar
  • radar
P=P so then these two equations are equal for equlibrum: 133-0.09x=0.9x-560 Solve for x by consolidating/simplifying getting .99x=693 or x=700 substitute the 700 in your P=0.9(700) - 560=630-560=70, P=70
anonymous
  • anonymous
Awesome thank you!
radar
  • radar
No problemo

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