SOLUTION: The question is The demand and supply functions of a local shoe retailer are D(p)= 2000-60p S(p)=460+94p Where p is the price in dollars a) find those values of p for which

Algebra ->  Customizable Word Problem Solvers  -> Misc -> SOLUTION: The question is The demand and supply functions of a local shoe retailer are D(p)= 2000-60p S(p)=460+94p Where p is the price in dollars a) find those values of p for which       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 412284: The question is
The demand and supply functions of a local shoe retailer are
D(p)= 2000-60p
S(p)=460+94p
Where p is the price in dollars
a) find those values of p for which demand exceeds supply
b) find those value of p for which demand is less than supply

This is how I am setting it up
2000-60p=460+94p
2000-460=1530
94p+60p= 154p
1530/154p
p=
I just do not think that I am setting this problem up correctly and am confused on how to work it out
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!


Hi

D(p)= 2000-60p

S(p)=460+94p    |Where p is the price in dollars



a) find those values of p for which demand exceeds supply

 2000-60P > 460 + 94p

    2460 > 154p

     $15.97 > p  |when p < $15.97

b) find those value of p for which demand is less than supply

  2000-60P < 460 + 94p

   2460 < 154p   |when p > $15.97