Solve the problem.Suppose that the supply and demand equations for a logo sweat

User Generated

fnenu1993

Mathematics

Description

Solve the problem.Suppose that the supply and demand equations for a logo sweat shirt in a particular week are p=55-0.1q for the demand equation; and p=0.20q+25  for the supply equation. Find the equilibrium price (p) and quantity (q).

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Thank you for the opportunity to help you with your question!

55-0.1q=0.2q+25

55-25=0.2q-0.1q

30=0.1q

q=300

p=55-(0.1*300)

55-30

p=35

Please let me know if you need any clarification. I'm always happy to answer your questions.


Anonymous
This is great! Exactly what I wanted.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags