Assume that the price per unit d of a certain item to the consumer is given by the equation where x is the number of units in demand. The price per unit from the supplier is given by the equation where x is the number of units supplied. Find the equilibrium price and the equilibrium quantity.
A) equilibrium price: $50 per unit; equilibrium quantity: 30 units
B) equilibrium price: $30 per unit; equilibrium quantity: 50 units
C) equilibrium price: $20 per unit; equilibrium quantity: 50 units
D) equilibrium price: $35 per unit; equilibrium quantity: 50 units

Question

Assume that the price per unit d of a certain item to the consumer is given by the equation  where x is the number of units in demand. The price per unit from the supplier is given by the equation  where x is the number of units supplied. Find the equilibrium price and the equilibrium quantity.
A) equilibrium price: $50 per unit; equilibrium quantity: 30 units 
B) equilibrium price: $30 per unit; equilibrium quantity: 50 units 
C) equilibrium price: $20 per unit; equilibrium quantity: 50 units 
D) equilibrium price: $35 per unit; equilibrium quantity: 50 units

Quizplus · Accepted Answer

The Answer of Assume that the price per unit d of a certain item to the consumer is given by the equation  where x is the number of units in demand. The price per unit from the supplier is given by the equation  where x is the number of units supplied. Find the equilibrium price and the equilibrium quantity.
A) equilibrium price: $50 per unit; equilibrium quantity: 30 units 
B) equilibrium price: $30 per unit; equilibrium quantity: 50 units 
C) equilibrium price: $20 per unit; equilibrium quantity: 50 units 
D) equilibrium price: $35 per unit; equilibrium quantity: 50 units

Assume That the Price Per Unit D of a Certain