Answered: Find the market equilibrium point for…

Find the market equilibrium point for the following demand and supply equations. Demand: p = 4q + 593 - Supply: p = 7g – 936

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.3: Lines

Problem 92E

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Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.

Question

Find the market equilibrium point for the following
demand and supply equations.
Demand: p =
4q + 593
-
Supply: p = 7q
– 936
-
The market equilibrium point is 139

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