Find the point of equilibrium for the following supply and demand equations where x is number of units and p is the price per unit. Demand: p = 213 - 0.000040x Supply: p= 105 +0.000500x Number of units for equilibrium = Price per unit at equilibrium

Algebra and Trigonometry (6th Edition)
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ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Would I set the two equations equal to each other?

Find the point of equilibrium for the following supply and demand equations where x is number of units and p is the price per unit.
Demand: p = 213 - 0.000040x
Supply: p= 105 +0.000500x
Number of units for equilibrium =
Price per unit at equilibrium
=
Transcribed Image Text:Find the point of equilibrium for the following supply and demand equations where x is number of units and p is the price per unit. Demand: p = 213 - 0.000040x Supply: p= 105 +0.000500x Number of units for equilibrium = Price per unit at equilibrium =
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