Solve the equation by first using a sum-to-product formula. (enter your answers as a comma-separated list. let k be any integer.
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The value of p at the point of equilibrium, where supply and demand are equal, is 43.3 (the nearest tenth).
<h3>What is equilibrium point of supply and demand?</h3>The equilibrium point of supply and demand is the point where, the value of demand of a product is exactly equal to the value of supply of that product.
The supply and demand equations for blenders in a certain market is given as,
Here, in these equations, p represents price, D represents demand, and S represents supply.
At the point of equilibrium, the supply and demand are equal. Therefore,
Solve it further to get the value of p as,
Hence, the value of p at the point of equilibrium, where supply and demand are equal is 43.3 (the nearest tenth).
Learn more about the equilibrium point of supply and demand here;