SOLUTION: The number x of smartphones a manufacturer is willing to sell is given by x = 23p − 4100, where p is the price, in dollars, per smartphone. The number x of smartphones a whol

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: The number x of smartphones a manufacturer is willing to sell is given by x = 23p − 4100, where p is the price, in dollars, per smartphone. The number x of smartphones a whol      Log On


   

Question 1200813: The number x of smartphones a manufacturer is willing to sell is given by
x = 23p − 4100,
where p is the price, in dollars, per smartphone. The number x of smartphones a wholesale distributor is willing to purchase is given by
x = −3p + 1100,
where p is the price per smartphone. Find the equilibrium price.
$ ______
Answer by ikleyn(52803) About Me  (Show Source):
You can put this solution on YOUR website!
.

Left sides (x) in both equations must be equal; so equate right sides

    23p - 4100 = -3p + 1100.


From this equation, find p

    23p + 3p = 4100 + 1100

       26p   =    5200

         p   =    5200/26 = 200.


Then x = -3*200 + 1100 = -600 + 1100 = 500.


ANSWER.  x= 500;  p= 200.

Solved.