Asked by Dee
i need to find equilibrium price using these two equations:
P= -(1/25)x+190
P= (1/75)x+70
the equilibrium quantity is: 2250 units
the equilibrium price is: ______?
P= -(1/25)x+190
P= (1/75)x+70
the equilibrium quantity is: 2250 units
the equilibrium price is: ______?
Answers
Answered by
Henry
P = -x/25 + 190 = -2250/25 + 190 = $100.
= Equilibrium price.
Check: P = x/75 + 70 = 100
x/75 = 30
X = 2250 Units.
= Equilibrium price.
Check: P = x/75 + 70 = 100
x/75 = 30
X = 2250 Units.
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