A manufacturer has found that the daily demand for a certain item is $\frac{500}{p}$, where $p$ is the price of the item in dollars. The daily supply is $3 p-1$. At what price does supply equal demand? Round your answer to the nearest cent.
A) $\$ 13.08$
B) $\$ 78.47$
C) $\$ 7.46$
D) $\$ 26.82$

Question

Quizplus · Accepted Answer

To find the price where supply equals demand, set the demand equation equal to the supply equation: $\frac{500}{p} = 3p - 1$. Solving this equation for $p$ gives $p \approx 13.08$.

A Manufacturer Has Found That the Daily Demand for a Certain