Summer G.

asked • 12/02/20

Demand: p = 400 − 0.0002 x Supply: p = 225 + 0.0005 x

The demand and supply equations for a certain product are given below, where p=the price in dollars for each unit of the product and x= the number of units.Find the point of equilibrium for the market. (hint: supply = demand)

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Philip P. answered • 12/02/20

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Do what the hint suggests: set the two equations equal and solve for x.

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Summer G.

yeah but i dont know how to
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12/02/20

Philip P.

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400 - 0.0002x = 225 + 0.0005x Step 1, subtract 225 from each side: 175 - 0.0002x = 0.0005x Next, add 0.0002x to both sides. Can you finish it from there? Algebra 1.
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12/02/20

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