SOLUTION: The demand equation is given as {{{y=x/50+15}}} and the supply as {{{y=12500/x}}}. Find the equilibrium price.

Question 138688: The demand equation is given as and the supply as . Find the equilibrium price.
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!

Start with the given system

Now move onto the second equation

Plug in

Multiply both sides by the LCD 50x

Distribute and multiply

Subtract 625000 from both sides.

Factor the left side (note: if you need help with factoring, check out this solver)

Now set each factor equal to zero:
or

or Now solve for x in each case

So our answer is
or

However, a negative number of jackets does not make sense. So the only solution is

Now plug into the second equation

So our solution is and

So when 500 jackets are sold, the supply will equal the demand at $25.
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