just solve D(p) = S(p)
1100-200p = 100p-100
The demand in units per week for a given product as a function of its price, p, in dollars is given as D(p) = 1100 Ð 200p, the supply of the same product in units per week as a function of its price, p, in dollars is given as S(p) = 100p Ð 100. The market clearing price is the price at which supply equals demand, what is the market clearing price for this product?
1 answer
1 answer