• Science & Mathematics >
  • Mathematics
  • Science & Mathematics >
  • Mathematics

Find the equilibrium point for the given supply and demand functions?

  • Follow publicly
  • Follow privately
  • Unfollow
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
Best Answer
  • Philo answered 6 years ago
501 - 2x = y = 5x - 619
501 - 2x = 5x - 619
7x = 1120
x = 160
y = 501 - 2(160) = 501 - 320 = 181
  • 0
    0
  • Comment
find the equilibrium point for the given supply and demand functions?
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
Sign In 

to add your answer

Who is following this question?

    %
    BEST ANSWERS
    Member Since:
    Points: Points: Level
    Total Answers:
    Points this week:
    Follow
     
    Unfollow
     
    Block
     
    Unblock