Find the equilibrium point (x,p) 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.
$\begin{array}{lr}\text { Demand }&\text { Supply }\
p=410-0.0004 x&p=230+0.0002 x
\end{array}$

A) (290, 300,000)
B) (290, -300,000)
C)(-300,000, -290)
D)(300,000, 290)
E)(-300,000, 290)

Question

Find the equilibrium point (x,p) 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.  
$\begin{array}{lr}\text { Demand }&\text { Supply }\
p=410-0.0004 x&p=230+0.0002 x
\end{array}$

A) (290, 300,000)
B) (290, -300,000) 
C)(-300,000, -290) 
D)(300,000, 290)
E)(-300,000, 290)

Quizplus · Accepted Answer

To find the equilibrium point, set the demand equation equal to the supply equation and solve for $x$: $410 - 0.0004x = 230 + 0.0002x$. Combining like terms gives $0.0006x = 180$, so $x = 300,000$. Substitute $x = 300,000$ into either the demand or supply equation to find $p$: $p = 230 + 0.0002(300,000) = 290$. Therefore, the equilibrium point is $(300,000, 290)$.

Find the Equilibrium Point (X,p) of the Demand and Supply Demand Supply p=410−0.0004xp=230+0.0002x\begin{array}{lr}\text { Demand }&\text { Supply }\\p=410-0.0004 x&p=230+0.0002 x\end{array} Demand p=410−0.0004x​ Supply p=230+0.0002x​

Find the Equilibrium Point (X,p) of the Demand and Supply $\begin{array}{lr}\text { Demand }&\text { Supply }\\p=410-0.0004 x&p=230+0.0002 x\end{array}$