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Question 205511: Help Help Help PLEASE!!!
The Sunshine Bakery sells pies at a fixed price of,p, per pie. The total number of pies demanded daily, D is related to the price, p, by the equation:
D=-10p+200
On the other hand, the daily supply of pies, S, is related to the price p per pie by the equation:
S=15p-50
Determine the equilibrium price of pies, i.e., the price at which the Supply S and Demand D are equal.
I set the problem up as
-10p+200=15p-50
-25p=-250
p=10
I don't know where I should go from here. Will you please help.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! You are finished. You found that when the
price is $10 supply equals demand.
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Cheers,
Stan H.
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