document.write( "Question 1202813: The demand equation for the Drake GPS Navigator is
\n" ); document.write( "x + 4p − 728 = 0,\r
\n" ); document.write( "\n" ); document.write( " where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation
\n" ); document.write( "x − 20p + 1000 = 0,\r
\n" ); document.write( "\n" ); document.write( " where x is the quantity the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.\r
\n" ); document.write( "\n" ); document.write( "equilibrium quantity units
\n" ); document.write( "equilibrium price $
\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #837969 by ikleyn(52781) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "The demand equation for the Drake GPS Navigator is
\n" ); document.write( "x + 4p − 728 = 0,
\n" ); document.write( "where x is the quantity demanded per week and p is the wholesale unit price in dollars. \r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "The supply equation is
\n" ); document.write( "x − 20p + 1000 = 0,
\n" ); document.write( "where x is the quantity the supplier will make available in the market each week
\n" ); document.write( "when the wholesale price is p dollars each.
\n" ); document.write( "Find the equilibrium quantity and the equilibrium price for the GPS Navigators.
\n" ); document.write( "~~~~~~~~~~~~~~~~~~\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "

\r\n" );
document.write( "They want you find the values x and p that satisfy the two given equations SIMULTANEOUSLY.\r\n" );
document.write( "\r\n" );
document.write( "    x + 4p − 728 =   0,     (1)\r\n" );
document.write( "    x - 20p + 1000 = 0.     (2)\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "It is easy.  From equation (1), subtract equation (2).\r\n" );
document.write( "The terms with \"x\" wil cancel each other, and you will get\r\n" );
document.write( "\r\n" );
document.write( "       4p - (-20p) - 728 - 1000 = 0,\r\n" );
document.write( "\r\n" );
document.write( "or\r\n" );
document.write( "\r\n" );
document.write( "      24p = 1728,  --->  p = 1728/24 = 72.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Next, from equation (1) you have, substituting p= 72 there\r\n" );
document.write( "\r\n" );
document.write( "    x + 4*72 - 728 = 0\r\n" );
document.write( "\r\n" );
document.write( "    x - 440 = 0\r\n" );
document.write( "\r\n" );
document.write( "    x = 440.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "ANSWER.  The solution is  x= 440,  p= 72.\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved, with explanations.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );