Find the equilibrium point 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.)
$$\begin{array} { l l }
\text { Demand } & \text { Supply } \
p = 130 - 0.09 x & p = 0.4 x - 115
\end{array}$$
A) $( 500,85 )$
B) $( 200,112 )$
C) $( 835,219 )$
D) $( 300,103 )$
E) inconsistent

Question

Find the equilibrium point 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.)
$$\begin{array} { l l } 
\text { Demand } & \text { Supply } \
p = 130 - 0.09 x & p = 0.4 x - 115
\end{array}$$
A) $( 500,85 )$
B) $( 200,112 )$
C) $( 835,219 )$
D) $( 300,103 )$
E) inconsistent

Quizplus · Accepted Answer

To find the equilibrium point, set the demand and supply equations equal to each other and solve for $x$.$$130 - 0.09x = 0.4x - 115$$$$0.49x = 245$$$$x = 500$$Substitute $x = 500$ into either the demand or supply equation to find $p$.$$p = 130 - 0.09(500) = 85$$Therefore, the equilibrium point is $(500, 85)$.

Find the Equilibrium Point of the Demand and Supply Equations ppp

Find the Equilibrium Point of the Demand and Supply Equations $p$