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.
$\begin{array}{lr}\text { Demand }&\text { Supply }\
p=570-0.5 x&p=370+0.3 x
\end{array}$

A)(250, 445)
B) (445, -250)
C) (445, 250)
D) (-250, 445)
E) (-250, -445)

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.  
$\begin{array}{lr}\text { Demand }&\text { Supply }\
p=570-0.5 x&p=370+0.3 x
\end{array}$

A)(250, 445) 
B) (445, -250) 
C) (445, 250) 
D) (-250, 445) 
E) (-250, -445)

Quizplus · Accepted Answer

To find the equilibrium point, set the demand and supply equations equal: $570 - 0.5x = 370 + 0.3x$. Solving for $x$, we get $x = 250$. Substitute $x = 250$ back into either equation to find $p = 445$. Thus, the equilibrium point is (250, 445).

Find the Equilibrium Point (X,p) of the Demand and Supply Demand Supply p=570−0.5xp=370+0.3x\begin{array}{lr}\text { Demand }&\text { Supply }\\p=570-0.5 x&p=370+0.3 x\end{array} Demand p=570−0.5x​ Supply p=370+0.3x​

Find the Equilibrium Point (X,p) of the Demand and Supply $\begin{array}{lr}\text { Demand }&\text { Supply }\\p=570-0.5 x&p=370+0.3 x\end{array}$