Let the demand and supply functions be represented by D(p)and S(p), where p is the price in dollars. Find the equilibrium price and equilibrium quantity for the given functions.
$
\begin{array}{l}
\mathrm{D}(\mathrm{p})=5760-50 \mathrm{p} \
\mathrm{S}(\mathrm{p})=250 \mathrm{p}-1440
\end{array}
$
A) $ \$ 28 ; 4360 $
B) $ \$ 36 ; 3960 $
C) $ \$ 28 ; 4560 $
D) $ \$ 24 ; 4560 $

Question

Let the demand and supply functions be represented by D(p)and S(p), where p is the price in dollars. Find the equilibrium price and equilibrium quantity for the given functions. 
$
\begin{array}{l}
\mathrm{D}(\mathrm{p})=5760-50 \mathrm{p} \
\mathrm{S}(\mathrm{p})=250 \mathrm{p}-1440
\end{array}
$
A) $ \$ 28 ; 4360 $
B) $ \$ 36 ; 3960 $
C) $ \$ 28 ; 4560 $
D) $ \$ 24 ; 4560 $

Quizplus · Accepted Answer

The Answer of Let the demand and supply functions be represented by D(p)and S(p), where p is the price in dollars. Find the equilibrium price and equilibrium quantity for the given functions. 
$
\begin{array}{l}
\mathrm{D}(\mathrm{p})=5760-50 \mathrm{p} \
\mathrm{S}(\mathrm{p})=250 \mathrm{p}-1440
\end{array}
$
A) $ \$ 28 ; 4360 $
B) $ \$ 36 ; 3960 $
C) $ \$ 28 ; 4560 $
D) $ \$ 24 ; 4560 $

Let the Demand and Supply Functions Be Represented by D(p)and D(p)=5760−50pS(p)=250p−1440\begin{array}{l}\mathrm{D}(\mathrm{p})=5760-50 \mathrm{p} \\\mathrm{S}(\mathrm{p})=250 \mathrm{p}-1440\end{array}D(p)=5760−50pS(p)=250p−1440​

Let the Demand and Supply Functions Be Represented by D(p)and $\begin{array}{l}\mathrm{D}(\mathrm{p})=5760-50 \mathrm{p} \\\mathrm{S}(\mathrm{p})=250 \mathrm{p}-1440\end{array}$