SOLUTION: The demand equation for the Schmidt-3000 fax machine is , where x is the quantity demanded per week and p is the unit price in dollars. The supply equation is , where x is the quan

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Question 1053899: The demand equation for the Schmidt-3000 fax machine is , where x is the quantity demanded per week and p is the unit price in dollars. The supply equation is , where x is the quantity the supplier will make available in the market when the unit price is p dollars. Find the equilibrium quantity and the equilibrium price for the fax machines.
a. 450, =$500
b. 600, =$200
c. 500, =$400
d. 400, =$600
e. 550, =$300
Please explain. Thank you!!
Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!

The demand equation for the Schmidt-3000 fax machine is , where x is the quantity demanded per week and p is the unit price in dollars. The supply equation is , where x is the quantity the supplier will make available in the market when the unit price is p dollars. Find the equilibrium quantity and the equilibrium price for the fax machines.
a. 450, =$500
b. 600, =$200
c. 500, =$400
d. 400, =$600
e. 550, =$300
Please explain. Thank you!!
Do you look at what you're trying to post before posting? Apparently not! 

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