A restaurant is working to determine the supply and demand for their newest entrée.  Based on preliminary research, they found that their demand function is 5q+28p=962 and the supply function is -q+7p=47 p q is the number of entrées ordered.  Based on their preliminary research, what would be the market equilibrium price for the new entrée?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.1: Systems Of Linear Equations: Two Variables
Problem 2SE: If you are performing a break-even analysis for a business and their cost and revenue equations are...
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A restaurant is working to determine the supply and demand for their newest entrée.  Based on preliminary research, they found that their demand function is 5q+28p=962 and the supply function is -q+7p=47 p q is the number of entrées ordered.  Based on their preliminary research, what would be the market equilibrium price for the new entrée? 

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