The demand equation for the Wilkinson washable keyboards is p = −0.02x + 80

Question

The demand equation for the Wilkinson washable keyboards is

p = −0.02x + 80

where x is the quantity demanded per month and p is the unit price in dollars. The corresponding supply equation is given by

p = 0.03x + 20

where x is the quantity demanded per month and p is the unit price in dollars. Find the equilibrium quantity and the equilibrium price for the Wilkinson washable keyboards.

Answer 1

Sa T

Just put supply = demand, solve for x and then p

Mike