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College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060XCollege Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060X Exercise 50
Step-by-step solution
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Step 1 of 2
Suppose that, for a certain product, the supply and demand functions are
and
, respectively, where p is in dollars and q is in units.
Find the equilibrium price and quantity.
To do this solve the equations,
and 
by the substitution method.
Substitute
for 
in 
Remove parentheses by distributive property.
Subtract 80 from both sides.
Divide both sides by 2.
Step 2 of 2
College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
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