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anonymous

  • 5 years ago

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

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  1. radar
    • 5 years ago
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    A

  2. radar
    • 5 years ago
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    If you want to know why let me know/

  3. anonymous
    • 5 years ago
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    Yes I would please! This is a practice problem and I probably will have more on my test ...

  4. radar
    • 5 years ago
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    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

  5. anonymous
    • 5 years ago
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    Awesome thank you!

  6. radar
    • 5 years ago
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    No problemo

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