Asked by Robbi
The demand equation for a certain brand of GPS Navigator is x + 3p - 565 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars.
The supply equation is x - 16p + 480 = 0, where x is the quantity the supplier will make available in the market when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.
a. equilibrium quantity 2,000 units; equilibrium price $55
b. equilibrium quantity 2,000 units; equilibrium price $40
c. equilibrium quantity 400 units; equilibrium price $55
d. equilibrium quantity 400 units; equilibrium price $40
The supply equation is x - 16p + 480 = 0, where x is the quantity the supplier will make available in the market when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.
a. equilibrium quantity 2,000 units; equilibrium price $55
b. equilibrium quantity 2,000 units; equilibrium price $40
c. equilibrium quantity 400 units; equilibrium price $55
d. equilibrium quantity 400 units; equilibrium price $40
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