SOLUTION: The number x of smartphones a manufacturer is willing to sell is given by
x = 19p − 1400,
where p is the price, in dollars, per smartphone. The number x of smartphones a wh
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-> SOLUTION: The number x of smartphones a manufacturer is willing to sell is given by
x = 19p − 1400,
where p is the price, in dollars, per smartphone. The number x of smartphones a wh
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Question 1008715: The number x of smartphones a manufacturer is willing to sell is given by
x = 19p − 1400,
where p is the price, in dollars, per smartphone. The number x of smartphones a wholesale distributor is willing to purchase is given by
x = −5p + 1000,
where p is the price per smartphone. Find the equilibrium price. Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! 19p − 1400 = −5p + 1000 Now let's find p, which is our equilibrium price:
Add 1400 on both sides:
19p = -5p + 2400 Now add 5p on both sides:
24p = 2400 Finally, divide both sides by 24
p = 100 is your equilibrium price.
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