Market Equilibrium The demand for a brand of clockradio is given by p + 2q = 320, and the supply forthese radios is given by p - 8q = 20, where p isthe price and q is the number of clock radios. Solvethe system containing these two equations to find(a) the price at which the quantity demanded equalsthe quantity supplied and (b) the equilibriumquantity.
Market Equilibrium The demand for a brand of clockradio is given by p + 2q = 320, and the supply forthese radios is given by p - 8q = 20, where p isthe price and q is the number of clock radios. Solvethe system containing these two equations to find(a) the price at which the quantity demanded equalsthe quantity supplied and (b) the equilibriumquantity.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.3: Lines
Problem 92E
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Market Equilibrium The demand for a brand of clock
radio is given by p + 2q = 320, and the supply for
these radios is given by p - 8q = 20, where p is
the price and q is the number of clock radios. Solve
the system containing these two equations to find
(a) the price at which the quantity demanded equals
the quantity supplied and (b) the equilibrium
quantity.
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