find the equilibrium point for the demand and supply functions

D(p)=79-8p and S(p)=37+6p,
where p is the price, in dollars, D(p) is the number of units demanded, and S(p) is the number of units supplied.

To find the equilibrium point, we need to set the demand function equal to the supply function and solve for the price (p) at which they intersect.

So, we have:
D(p) = S(p)

Substituting the given demand and supply functions, we get:
79 - 8p = 37 + 6p

To solve this equation, we can start by moving all the terms involving p to one side of the equation:
-8p - 6p = 37 - 79
-14p = -42

Next, divide both sides of the equation by -14 to solve for p:
p = (-42) / (-14)
p = 3

Therefore, the equilibrium point occurs when the price (p) is $3.