document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1197816>Question 1197816</A>: <I><SPAN STYLE=\"word-break: break-all;\"> At a price of $4.96 per pound, the supply for cherries is 16,171 pounds, and the demand is 10,107 pounds.  When the price drops to $4.14 per pound, the supply decreases to 10,590 pounds and the demand increases to 12,913 pounds.  Assume that the price-supply and price-demand equations are linear.<BR>\n" );
document.write( "What is the equilibrium quantity?  Round to the nearest pound. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #831412 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=831412\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> linear equation is y = mx + b.<BR>\n" );
document.write( "m is the slope.<BR>\n" );
document.write( "b is the y-intercept, which is the value of y when x = 0.\r<BR>\n" );
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document.write( "at a price of 4.96 per pound, the supply is 16,171 pounds and the demand is 10,107 pounds.<BR>\n" );
document.write( "at a price of 4.14 per pound, the supply decreases to 10,590 pounds and the demand increases to 12,913 pounds.\r<BR>\n" );
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document.write( "let x = the price per pound.<BR>\n" );
document.write( "you have a demand equation and a supply equation.<BR>\n" );
document.write( "the demand equation becomes:<BR>\n" );
document.write( "y = -3421.95122 * x + 27079.87805<BR>\n" );
document.write( "the supply equation becomes:<BR>\n" );
document.write( "y = 6806.097561 * x -17587.2439\r<BR>\n" );
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document.write( "the intersection point is when the demand equation is equal to the supply equation.<BR>\n" );
document.write( "this occurs when -3421.95122 * x + 27079.87805 = 6806.097561 * x - 17587.2439.<BR>\n" );
document.write( "add 3421.95122 * x to both sides of the equation and add 17587.2439 to both sides of the equation to get:<BR>\n" );
document.write( "27079.87805 + 17587.2439 = 6806.097561 * x + 3421.95122 * x<BR>\n" );
document.write( "combine like terms to get:<BR>\n" );
document.write( "44667.12195 = 10228.04878 * s<BR>\n" );
document.write( "solve for x to get:<BR>\n" );
document.write( "x = 4.367120544.<BR>\n" );
document.write( "at that value of x, the demand = 12135.80458 and the supply = the same.<BR>\n" );
document.write( "that's your equilibrium point.\r<BR>\n" );
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document.write( "your x value in both equations is the price per pound.\r<BR>\n" );
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document.write( "if you need further clarification as to how i got this answer, let me know and i'll supply you with the specifics on how the equations were derived.<BR>\n" );
document.write( "it is, however a standard procedure on how to find the slope and the y-intercept of each equation.\r<BR>\n" );
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document.write( "the graph of the equations and the intersection point is shown below:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2022/110503.jpg\"> </SPAN>\n" );
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