For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price.

Question

2x + 9p - 93 = 0 and 3x - 14p + 108 = 0


a. equilibrium quantity 12,000 units; equilibrium price $9

b. equilibrium quantity 12,000 units; equilibrium price $13

c. equilibrium quantity 6,000 units; equilibrium price $13

d. equilibrium quantity 6,000 units; equilibrium price $9

Please explain. thank you

Answer 1

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