S=D
15p-50 = -10p+200
25p = 250
p = 10
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.
1 answer
1 answer