Question

supply and demand functions S(x) and D(x), are given for a particular commodity in terms of the level of production x find the value of x[e].
S(x)=5x+280 and D(x)=-5x+480

How can I get the P[e]?
Why is = 380.

Please help!!

Thanks!

Answer 1

hate economics and dont remember much
im assuming you're trying to determine the point when demand is equal to supply curve
so d(x)=S(x)

and solve for x

hint: x=20
once you determine x, input that back into either equation to get your answer

Answer 2

I am taking an online class and it doesn't show how?
Thats why i am lost.

Answer 3

5x+280 =-5x+480

x=20

d(20)=-5*20+480 =?

Answer 4

it helps to draw a picture

Answer 5

ohh waoo, I was trying to do it now.. Thx