Question

The demand equation for the Drake GPS Navigator is x + 4p – 800 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation is x – 20p +1000 = 0, where x is the quantity the supplier will make available in the market when the wholesale price is p dollars each. Find the equilibrium quantity for the GPS Navigators.

need the answer please for a test

Answer 1

demand:

x + 4p – 800 = 0

x = 800 -4p

and supply:

x – 20p +1000 = 0

x= 20p -1000

Answer 2

we need equilibrium, which means supply = demand

800 - 4p = 20p -1000

Answer 3

24p = 1800

Answer 4

p = 1800/24 = 75

Answer 5

75 is the answer?

Answer 6

do you understand the method?

Answer 7

75 is wrong

Answer 8

75 is not the answer

Answer 9

p = 75, we now use p to find x

Answer 10

ohh

Answer 11

x= 20p -1000

x= 20*75 - 1000 = 500

Answer 12

we could have found x straight away but i thought the algebra was easier this way

Answer 13

x=500=500?

Answer 14

yes. if i have understood the question properly

Answer 15

answer is 500?

Answer 16

yes