document.write( "Question 1033134: A certain product has supply and demand functions given by p=7q+21 and p=329-4q, respectively, where p is the pice in dollars and q is the quantity supplied or demanded at price p. What price give market equilibrium? \n" ); document.write( "
Algebra.Com's Answer #647716 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! Set 7q+21=329-4q, since each side is equal to the same p. \n" ); document.write( "11q=308 \n" ); document.write( "q=28 \n" ); document.write( "Solve for p \n" ); document.write( "p=7(28)+21 \n" ); document.write( "=$217. \n" ); document.write( "check with other \n" ); document.write( "329-4(28)=$217. \n" ); document.write( " |