Here y represents price and x represents quantity
y=501-2x
y=5x-619
The answer is 160 and 181 but need to know how to get these answers
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Show me another »Find the equilibrium point for the given supply and demand functions?
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501 - 2x = y = 5x - 619
501 - 2x = 5x - 619
7x = 1120
x = 160
y = 501 - 2(160) = 501 - 320 = 181
501 - 2x = 5x - 619
7x = 1120
x = 160
y = 501 - 2(160) = 501 - 320 = 181
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