Solve the problem.
-As the price of a product increases, the demand for that product decreases. However, at higher prices, suppliers are willing to produce greater quantities of the product. The weekly supply and demand models
For a certain type of television are as follows: Demand: $\mathrm { N } = - 6 \mathrm { p } + 730$
Supply: $\quad N = 2.4 p$
where $\mathrm { p }$ is the price in dollars per television.
Find the price at which supply and demand are equal. At this price, how many televisions can be supplied and sold each week?
A) $\$ 86.90 ; 209$
B) $\$ 202.78 ; 487$
C) $\$ 301.67 ; 724$
D) $\$ 86.90 ; 230$

Question

Quizplus · Accepted Answer

To find the price at which supply equals demand, set the demand equation equal to the supply equation and solve for $p$: $-6p + 730 = 2.4p$. Solving this equation gives $p = 86.90$. Substituting $p = 86.90$ into either the supply or demand equation gives $N = 209$.

Solve the Problem N=−6p+730\mathrm { N } = - 6 \mathrm { p } + 730N=−6p+730

Solve the Problem $\mathrm { N } = - 6 \mathrm { p } + 730$