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OpenStudy (anonymous):
Find the equilibrium point of the demand and supply equations.
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OpenStudy (anonymous):
OpenStudy (angela210793):
You have equilibrum when Demand=supply so 99-0.07x=0.7x-55 99+55=0.7x+0.07x 154=0.77x x=154/0.77 x=200
OpenStudy (anonymous):
oh.. wow, that was really easy. Xd I didn't think to just set them equal to eachother. thanks!
OpenStudy (angela210793):
you're welcome :)
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