Math Please Help

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

  1. 👍
  2. 👎
  3. 👁
  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

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    Regina buys eggs at the local supermarket. They are sold in different quantities and at different prices. The quantities and prices are shown. Brand A: 6 eggs $1.77 Brand B: 12 eggs $3.75 Brand C: 18 eggs $5.24 Brand D: 24 eggs

  2. Statistics

    A car rental agency currently has 41 cars available, 28 of which have a GPS navigation system. Two cars are selected at random from these 41 cars. Find the probability that both of these cars have GPS navigation systems

  3. college

    American Tire and Rubber Company sells identical radial tires under the firm's own brand name and private label tires to discount stores. The radial tires sold in both sub-markets are identical, and the marginal cost is constant

  4. Math

    Brand A: 20 for $2.50 Brand B: 35 for $3.25 Brand C: 50 for $5.25 Brand D: 100 for $10.00 The school nurse is low on band-aids. She heads to the store and finds 4 brands. Which one is the best buy? You must prove your answer.

  1. american history

    What was important about the scientific innovations discovered under the rule of Prince Henry the Navigator? A. Prince Henry the Navigator provided Columbus with the funding he needed to build the most innovative ships in Europe.

  2. Math

    An appliance store sells three brands of TV sets, brands A, B, and C. The profit per set is $30 for brand A, $50 for brand B, and $60 for brand C. The total warehouse space allotted to all brands is sufficient for 600 sets, and

  3. Probabilities

    A brand name has a 40% recognition rate. If the owner of the brand wants to verify that rate by beginning with a small sample of 10 randomly selected consumers, find the probability that exactly 4 of the 10 consumers recognize the

  4. science

    1) Which statement best demonstrates how data from a global positioning system (GPS) can be used to lessen the effects of a wildfire?(1 point) a) GPS data can be used by scientists to predict weather patterns that can lead to a

  1. Economic

    1. The principle that states that the more you have of something, the less satisfaction you will get from an additional unit is the a. law of demand. c. law of equilibrium. b. law of diminishing marginal utility. d. price

  2. Business Math

    3.) The demand equation for a certain product is q=500-40p+p^2 where p is the price per unit (in dollars) and q is the quantity of units demanded (in thousands). Find the point elasticity of demand when p = 15. If this price of 15

  3. physics

    GPS satellites orbit the earth about 20,000 km above the surface of the earth. The radius of the earth is 6,371 km. What is the acceleration due to earth’s gravity on the GPS satellites? i've tried fooling around with the A =

  4. Algebra

    Ainsley is trying to eat more vitamins and minerals. She checks the nutrition labels on two different brands of soup. Brand A has 40 percent of the daily value of iron in a 2-cup serving. Brand B has 30 percent of the daily value

You can view more similar questions or ask a new question.