Doug William, the owner of a corner store, estimates that the supply and demand for a specialized energy drink could be described by the following equations D : q=−25 p+345 , S : q=50 p−330, where p represents the price in dollars per case (each case contains 12 bottles), and q represents the number of cases sold each week (a) Determine the market equilibrium price and quantity.

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.