Question 513382
Find the equilibrium point for the given supply and demand equation. Here y represents price and x represents quantity
y= 2700-80x (demand)
y= 100x (supply)
:
Supply = demand
100x = 2700 - 80x
100x + 80x = 2700
180x = 2700
x = {{{2700/180}}}
x = $15 is the price