Find the equilibrium point (x,p) of the demand and supply equations.The equilibrium point is the price p and number of units x that satisfy both the demand and supply equations.
$\begin{array}{lr}\text { Demand }&\text { Supply }\
p=140-0.00003 x&p=90+0.00001 x
\end{array}$

A)(103, 1,250,000)
B) (-1,250,000, -103)
C) (1,250,000, 103)
D) (103, -1,250,000)
E) (-1,250,000, 103)

Question

Find the equilibrium point (x,p) of the demand and supply equations.The equilibrium point is the price p and number of units x that satisfy both the demand and supply equations.  
$\begin{array}{lr}\text { Demand }&\text { Supply }\
p=140-0.00003 x&p=90+0.00001 x
\end{array}$
 
A)(103, 1,250,000)
B) (-1,250,000, -103)
C) (1,250,000, 103)
D) (103, -1,250,000)
E) (-1,250,000, 103)

Quizplus · Accepted Answer

To find the equilibrium point, set the demand equation equal to the supply equation and solve for $x$:$$140 - 0.00003x = 90 + 0.00001x$$$$50 = 0.00004x$$$$x = 1,250,000$$Substitute $x = 1,250,000$ into either the demand or supply equation to find $p$:$$p = 140 - 0.00003(1,250,000) = 103$$Therefore, the equilibrium point is $(x, p) = (1,250,000, 103)$.

Find the Equilibrium Point (X,p) of the Demand and Supply Demand Supply p=140−0.00003xp=90+0.00001x\begin{array}{lr}\text { Demand }&\text { Supply }\\p=140-0.00003 x&p=90+0.00001 x\end{array} Demand p=140−0.00003x​ Supply p=90+0.00001x​

Find the Equilibrium Point (X,p) of the Demand and Supply $\begin{array}{lr}\text { Demand }&\text { Supply }\\p=140-0.00003 x&p=90+0.00001 x\end{array}$