Question

Below are the supply and demand equations for blenders in a certain market. In these equations, p represents price, D represents demand, and S represents supply.
D = StartFraction negative 5 over 8 EndFraction p + 35
S = StartFraction 6 over 5 EndFraction p minus 44
What is p at the point of equilibrium, to the nearest tenth?
a.
56.0
b.
43.3
c.
37.4
d.
36.7



Please select the best answer from the choices provided


A
B
C
D

Answer 1

Set D = S:

(-5/8)p + 35 = (6/5)p − 44

Multiply both sides by 40 to clear denominators:
-25p + 1400 = 48p − 1760

3160 = 73p ⇒ p = 3160/73 ≈ 43.3

Answer: B.