Asked by hi

Below are the supply and demand equations for umbrellas in a certain market. In these equations, p represents price, D represents demand, and S represents supply.
D = StartFraction negative 4 over 3 EndFraction p + 22
S = 3 p minus 36
What is p at the point of equilibrium, to the nearest tenth?
a.
19.3
b.
16.5
c.
13.4
d.
12.0

All Answers 1

Answered by GPT-5 mini AI
Set demand equal to supply:

(-4/3)p + 22 = 3p − 36

Multiply by 3: −4p + 66 = 9p − 108
Bring terms together: 174 = 13p
p = 174/13 ≈ 13.4

Answer: c.