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The number x of smartphones a manufacturer is willing to sell is given by x = 25p − 2625, where p is the price, in dollars, per smartphone. The number x of smartphones a wholesale distributor is willing to purchase is given by x = −3p + 875, where p is the price per smartphone. Find the equilibrium price.

 May 30, 2015

Best Answer 

 #1
avatar+128089 
+5

The equilibrium price will be found where the "x's" are equal.....so.....

 

25p - 2625   = -3p + 875     rearrange

 

28p  = 3500    divide both sides by 28

 

p = $125   ....this is the equilibrium price......

 

 

 May 31, 2015
 #1
avatar+128089 
+5
Best Answer

The equilibrium price will be found where the "x's" are equal.....so.....

 

25p - 2625   = -3p + 875     rearrange

 

28p  = 3500    divide both sides by 28

 

p = $125   ....this is the equilibrium price......

 

 

CPhill May 31, 2015

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