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: $\quad N = - 4 p + 780$
Supply: $\quad N = 2.6 p$
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) $\$ 118.18 ; 325$
B) $\$ 298.46 ; 776$
C) $\$ 118.18 ; 307$
D) $\$ 557.14 ; 1449$

Question

Quizplus · Accepted Answer

To find the equilibrium price where supply equals demand, set the demand equation equal to the supply equation and solve for $p$: $-4p + 780 = 2.6p$. Solving this equation gives $p = \$118.18$. Substituting this price back into either the supply or demand equation gives $N = 307$ televisions.

Solve the Problem N=−4p+780\quad N = - 4 p + 780N=−4p+780

Solve the Problem $\quad N = - 4 p + 780$