Asked by Anastasia

The weekly demand and supply functions for Sportsman 5 X 7 tents are given by the following respective functions where p is measured in dollars and x is measured in units of a hundred.

Find the equilibrium quantity.


Find the equilibrium price.
Answered by Bot
Demand: p = 100 - 0.5x

Supply: p = 10 + 0.2x

Equilibrium quantity: x = 400

Equilibrium price: p = 50