document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1091512>Question 1091512</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A group of wholesalers will buy 50 dryers per month if the price is R200 and 30 per month if the price is<BR>\n" );
document.write( "R300. The manufacturer is willing to supply 20 if the price is R210 and 30 if the price is R230. Assuming<BR>\n" );
document.write( "that the resulting supply and demand functions are linear.\r<BR>\n" );
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document.write( "Find the equilibrium point for the market. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #705977 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=705977\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the two points of your demand equation are:\r<BR>\n" );
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document.write( "(200,50) and (300,30)\r<BR>\n" );
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document.write( "price is on the x-axis and number of units demanded is on the y-=axis.\r<BR>\n" );
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document.write( "use these points to find the slope equal to (30-50) / (300 - 200) = -20 / 100 = -1/5.\r<BR>\n" );
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document.write( "use any one of these points to find the y-intercept.\r<BR>\n" );
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document.write( "i used the point (200,50) to get y = -1/5 * x + b becomes 50 = -1/5 * 200 + b.\r<BR>\n" );
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document.write( "solve for b to get b = 50 + 40 = 90\r<BR>\n" );
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document.write( "the demand equation becomes y = -1/5 * x + 90\r<BR>\n" );
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document.write( "the two points of your supply equation are:\r<BR>\n" );
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document.write( "(210,20) and (230,30)\r<BR>\n" );
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document.write( "use these points to find the slope equal to (30 - 20) / (230 - 210) which is equal to 10 / 20 which is equal to 1/2.\r<BR>\n" );
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document.write( "use any one of these points to find the y-intercept.\r<BR>\n" );
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document.write( "i used (210,20) to get y = 1/2 * x + b becomes 20 = .5 * 210 + b.\r<BR>\n" );
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document.write( "this reqults in 20 = 105 + b.\r<BR>\n" );
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document.write( "solve for b to get b = 20 - 105 which is equal to -85.\r<BR>\n" );
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document.write( "your supply equation is y = 1/2 * x - 85\r<BR>\n" );
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document.write( "the graph of your demand equation is shown below.<BR>\n" );
document.write( "you can see that when the price is 200, the demand is 50 units.<BR>\n" );
document.write( "you can also see that when the price is 300, the demand is 30 units.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2017/082603.jpg\" alt=\"$$$\" </>\r<BR>\n" );
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document.write( "the graph of your supply equation is shown below.<BR>\n" );
document.write( "you can see that when the price is 210, the supply is 20.<BR>\n" );
document.write( "you can also see that when the price is 230, the supply is 30.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2017/082604.jpg\" alt=\"$$$\" </>\r<BR>\n" );
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document.write( "the graph of your equilibrium point is shown below.<BR>\n" );
document.write( "you can see that the demand and the supply are equal when the price is 250.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2017/082605.jpg\" alt=\"$$$\" </>\r<BR>\n" );
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document.write( "when the price is 250, the demand equation of y = -1/5 * x + 90 becomes y = -1/5 * 250 + 90 which becomes y = -50 + 90 which becomes y = 40.\r<BR>\n" );
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document.write( "when the price is 250, the supply equation of y = 1/2 * x - 85 becomes y = 1/2 * 250 - 85 which becomes y = 125 - 85 which becomes y = 40.\r<BR>\n" );
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document.write( "that's your equilibrium point which is when the demand equals the supply.\r<BR>\n" );
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document.write( "the slope intercept format of the equaiton of a straight line is:\r<BR>\n" );
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document.write( "y = mx + b\r<BR>\n" );
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document.write( "m is the slope.<BR>\n" );
document.write( "b is the y-intercept.\r<BR>\n" );
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document.write( "the formula to find the slope is m = (y2-y1) / (x2-x1).\r<BR>\n" );
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document.write( "(x1,y1) and (x2,y2) are any two points on the line.\r<BR>\n" );
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document.write( "once you find the slope, you find the y-intercept by taking any one of the two points given and replacing y with the y value of that point and x with the x value of that point and then solving for b.\r<BR>\n" );
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document.write( "this is what i did above.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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