Question 1202814
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Suggestions for new tutor @jekoishun...<br>
(1) Check your work and your answer before submitting your response.  Your response to this question shows that you know how to solve the problem... but somewhere along the way you used some wrong numbers and ended up with a wrong answer.<br>
(2) Look at "recently solved" and click on "show source" to learn how to make your responses much more readable using html code.  Or you can find some good tutorials on html on the internet.<br>
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I will provide an outline of the process and let the reader fill in the details; showing the complete solution does not benefit the student....<br>
Parts a, b, and c...<br>
For the demand equation the two points are (x,p) = (166,34) and (146,42).  Use basic algebra to find the demand equation is {{{p=-0.40x+100.4}}}<br>
For the supply equation the two points are (x,p) = (131,34) and (181,42).  Use basic algebra to find the supply equation is {{{p=0.16x+13.04}}}<br>
Part d...<br>
Set the expressions for p in the demand and supply equations equal and solve to find the equilibrium point.<br>
{{{-0.40x+100.4=0.16x+13.04}}}
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You should find the equilibrium point is (x,p) = (156,38)<br>