The supply and demand equations for a given commodity are:p - 2x = 1544p + 5x = 1000where x is number of units and p is price in dollars. Find the price at the point of market equilibrium.O A. $170O B. $180O C. $200O D. $160D E. $190

p-2x=154 (1)4p+5x2=1000 (2) Put p=2x+154 in equation…

Answered: The supply and demand equations for a…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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The supply and demand equations for a given commodity are: p - 2x = 154 = 1000 4p + 5x2 vhere x is number of units and p is price in dollars. Find the price at the point of market equilibrium. D A. $170 O B. $180 O C. $200 D. $160 E. $190