The demand equation for a certain brand of GPS Navigator is x + 3p - 565 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars.

The supply equation is x - 16p + 480 = 0, where x is the quantity the supplier will make available in the market when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.

a. equilibrium quantity 2,000 units; equilibrium price \$55

b. equilibrium quantity 2,000 units; equilibrium price \$40

c. equilibrium quantity 400 units; equilibrium price \$55

d. equilibrium quantity 400 units; equilibrium price \$40

thank you

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1. demand=supply
is x + 3p - 565=x - 16p + 480
19p=1045
p=\$55

Now for quanitity
x - 16p + 480 = 0
x=16(55)-480= 400 units

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2. 👎

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