Question

The sunshine bakery sells pies at a fixed price o p dollars per pie. The total number of pies demanded daily, D, is related to the price, p, in dollars by the equation:

D = -10p + 200

On the other hand, the daily supply of pies, S, is related to the price, p, per pie by the equation.

S = 15p - 50

Determine the equilibrium price of pies; that is, the price at which supply, S, and demand, D, are equal.
S=D
15p-50 = -10p+200
25p = 250
p = 10

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