Demand: p = 100 - 0.5x
Supply: p = 10 + 0.2x
Equilibrium quantity: x = 400
Equilibrium price: p = 50
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.
1 answer
1 answer