Question 1204039

The equilibrium price in any market is the price at which quantity demanded equals quantity supplied. 

{{{x + 4p- 463 =x - 15p + 1000}}}

{{{ 15p+ 4p  =x - x + 1000+463}}}

{{{ 19p  =1463}}}

{{{ p  =1463/19}}}

{{{ p  =77}}}........the equilibrium price 


Find the equilibrium quantity x using the demand equation


{{{ x + 4p -463 = 0}}}

{{{ x  + 4*77 -463 = 0}}}

{{{ x  -155= 0}}}

{{{ x =155}}}