Question

Below are the supply and demand equations for umbrellas in a certain market. in these equations, p represents price, d represents demand, and s represents supply. d = startfraction negative 4 over 3 endfraction p 22 s = 3 p minus 36 what is p at the point of equilibrium, to the nearest tenth? a. 19.3 b. 16.5 c. 13.4 d. 12.0

Answer 1

The value of price (p) at a point of equilibrium is 13.4. Then the correct option is C.

What is the linear system?

A Linear system is a system in which the degree of the variable in the equation is one. It may contain one, two, or more than two variables.

The equation of the demand (D) and supply (S) is given below.

$\rm D = -\dfrac{4}{3}p +22\\\\S \ = 3p -36$

Where p is price.

At equilibrium, we have

D = S

Then

$\begin{aligned} \dfrac{4}{3}p +22 &= 3p -36\\\\3p + \dfrac{4}{3} p &= 36 + 22\\\\\dfrac{13}{3}p &= 58\\\\p &= 13.38 \approx 13.4 \end{aligned}$

More about the linear system link is given below.

brainly.com/question/20379472