SOLUTION: the supply & demand equation for a certain product are 3x-200p + 1800=0 and 3x+100p-1800=0, respectively where p represents the price per unit im pesos n x represents the number of

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: the supply & demand equation for a certain product are 3x-200p + 1800=0 and 3x+100p-1800=0, respectively where p represents the price per unit im pesos n x represents the number of      Log On


   

Question 1130164: the supply & demand equation for a certain product are 3x-200p + 1800=0 and 3x+100p-1800=0, respectively where p represents the price per unit im pesos n x represents the number of units. Determine the market equilibrium quantity n price algebraically n find the market equilibrium point graphically
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
rewrite as
3x-200p=-1800
3x+100p=1800
-3x-100p=-1800. add the top and bottom
-300p=-3600
p=12
substitute into the first
3x-2400=-1800
x=200 units
write in slope-intercept form
3x=200p-1800; x=(200/3)p-600
3x=-100p+1800; x=(-100/3)p+600
graph%28300%2C300%2C-10%2C20%2C-200%2C700%2C%28200x%2F3%29-600%2C%28-100x%2F3%29%2B600%29%29