SOLUTION: Suppose that the quantity supplied S and the quantity demanded D of baseball caps at a major league game are given by the function S(p) = 3400-90p and D(p)=110p, where p is the pri

Question 1028453: Suppose that the quantity supplied S and the quantity demanded D of baseball caps at a major league game are given by the function S(p) = 3400-90p and D(p)=110p, where p is the price. a) Find the equilibrium price for the caps at the game. B) Find the equilibrium quantity. I have no clue where to even start with this question.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!

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I'm pretty sure that the equilibrium price
is where supply = demand, or

(a) The equilibrium price is $17.00
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and

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(b) The equilibrium quantity is 1870
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