Problema Solution
The price per unit, p, and the demand, x, for a particular material are related by the linear equation p=100-5/8x while the supply is given by the linear equation p=5/8x
At what value of p does supply equal demand?
Answer provided by our tutors
For the equation:
p=100-(5/8)x
by solving for x we find the demand:
x = - 5/(8p - 800)
From the equation:
p=(5/8)x
by solving for x we find the supply:
x = (8/5)p
Since we want to find p such that supply equals demand we have:
(8/5)p = - 5/(8p - 800)
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click here to see the equation solved for p
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p = 100 approximately
For p equal to 100 supply equals demand.