Posted by **Sam** on Monday, January 28, 2013 at 8:21am.

Let the demand and supply functions be represented by p=D(q) and p=S(q), respectively, where p is the price per item in dollars and q is the quantity of items. D(q) = 42-.03q S(q) = .02q -20

Find the equilibrium price. Hint: you will first find the equilibrium quantity (q) and once you know this you can find the equilibrium price (p)

## Answer this Question

## Related Questions

- Supply and Demand - 50) the monthly demand and supply functions for the Luminar ...
- finite - 1. Alabama State University’s Bookstore has determined that the supply...
- economics - Suppose the supply and demand for milk is described by the following...
- math - i also need help with this one: Supply and Demand let the supply and ...
- Economic Math - Suppose the supply and demand for milk is described by the ...
- statistics - 20. Supply and Demand Let the supply and demand functions for ...
- pre-calculus - It has been found that the supply of lamps varies linearly with ...
- pre-calculus - It has been discovered in a certain state that the relationship ...
- Further calculus - 1) A price p (in dollars) and demand x for a product are ...
- maths, functions - The demand in units per week for a given product as a ...

More Related Questions