document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1067255>Question 1067255</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Given the supply equation p=(q/1600)+9 and the demand equation p=&#8722;(q/2400)+17, find the equilibrium point. \r<BR>\n" );
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document.write( "Quantity = ?<BR>\n" );
document.write( "Price = ? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #682602 by </B><A HREF=/tutors/aboutme.mpl?userid=htmentor><B>htmentor(1343)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=htmentor><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=htmentor><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=682602\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The equilibrium point is the point where supply and demand are equal. <BR>\n" );
document.write( "We need to find the quantity, q, at the equilibrium price, p.<BR>\n" );
document.write( "Setting supply equal to demand we have:<BR>\n" );
document.write( "q/1600+9 = -q/2400+17<BR>\n" );
document.write( "Solving for q gives q = 7680.<BR>\n" );
document.write( "Now we can use either equation to get the price:<BR>\n" );
document.write( "p = 7680/1600+9 = $13.80 </SPAN>\n" );
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