The demand for your hand-made skateboards, in weekly sales, is q=-5p+600 if the selling price is $p. You are prepared to supply q=5p-400 per week at the price $p. What price should you sell your skateboards for so that there is neither a shortage nor a surplus?
Someone please help :(
-5p+600 = 5p-400
10p = 1000
p = 100
Well, well, well, looks like you need a little help finding the perfect price for your skateboards. Don't worry, I've got the answer, with a side of humor, of course!
To find the just-right price, we need to find the point where demand and supply meet, like a harmonious convergence of skateboard lovers and board makers. So, let's set the two equations equal to each other:
-5p + 600 = 5p - 400
Let's solve this equation to discover the magical price:
-5p - 5p = -400 - 600
-10p = -1000
Dividing both sides by -10:
p = 100
So, my friend, the perfect price to sell your skateboards without a shortage or surplus would be $100. Now, go out there and bring joy to the skateboarding world, one goofy maneuver at a time!
To find the price at which there will be neither a shortage nor a surplus, we need to determine the price where the demand equals the supply. In this case, the demand is given by the equation q = -5p + 600 and the supply is given by q = 5p - 400.
Setting these two equations equal to each other, we have:
-5p + 600 = 5p - 400
Now, let's solve for p:
-5p - 5p = -400 - 600
-10p = -1000
p = (-1000)/(-10)
p = 100
Therefore, the selling price of the hand-made skateboards should be $100 in order to have neither a shortage nor a surplus.
you want supply to equal demand at price p.
-5p+600 = 5p-400
10p = 1000
p = 10