Question

Devins T shirt business uses the demand function P= -Q+38 and the supply function P=Q-6. According to these functions what will the equilibrium point be for Devons Tshirt business (in other words, the number of t-shirts sold and the price at which they are sold)

Answer 1

Will give medals

Answer 2

equilibrium occurs when the prices are the same and the quantities (demanded and sold) are the same

So at equilibrium, P is the same value for both equations which allows us to say...


P = Q-6

-Q+38 = Q-6 ... replace P with -Q+38


This replacement is possible since the first equation says P = -Q+38 which tells us that `P` and `-Q+38` are equivalent expressions


Now solve for Q and tell me what you get.

Answer 3

Lol this is probably wrong but I got 32

Answer 4

It sounds wrong.. I still don't understand it😂😂

Answer 5

32 is incorrect

Answer 6

-Q+38 = Q-6

38+6 = Q+Q

44 = 2Q

2Q = 44

Q = ??

Answer 7

Yes can you explain it differently maybe?

Answer 8

Umm 22?

Answer 9

Is the incorrect?

Answer 10

Q = 22 is correct

Answer 11

awesome thank you!!

Answer 12

then you'll use Q = 22 to find P


P = Q-6

P = 22-6


and I'm sure you know the rest