The demand equation for the Drake GPS Navigator is x + 4p − 482 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation x − 15p + 1000 = 0, where x is the quantity the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.
The demand equation for the Drake GPS Navigator is x + 4p − 482 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation x − 15p + 1000 = 0, where x is the quantity the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter1: Expressions And Functions
Section1.8: Interpreting Graphs Of Functions
Problem 4CYU
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The demand equation for the Drake GPS Navigator is
x + 4p − 482 = 0,
where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation
x − 15p + 1000 = 0,
where x is the quantity the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.
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