Chapter 1.4, Problem 30E

EQUILIBRIUM QUANTITY AND PRICE FOR WIRELESS SPEAKERS The demand equation for the BWS Bluetooth wireless loudspeaker is

$p=-0.05x+200$

Where $x$ is the quantity demanded per month and $p$ is the unit price in dollars. The corresponding supply equation is given by

$p=0.025x+50$

Where $x$ is the quantity demanded per month and $p$ is the unit price in dollars. Find the equilibrium quantity and the equilibrium price for the BWS Bluetooth wireless loudspeakers.