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1 year ago

Can someone help me with this?

Mathematics

1 answer:

erik [133]1 year ago

7 0

The equilibrium price is $12.

<h3>What is the equilibrium price ?</h3>

Equilibrium is the point where the quantity demanded is equal to the quantity supplied. The price at equilibrium is known as the equilibrium price and the quantity at equilibrium is known as the equilibrium quantity.

When shown on a graph, equilibrium is the point where the quantity demanded curve is equal to the quantity supplied curve.

When there is equilibrium, the equation of quantity demanded would be equal to the equation of quantity supplied.

-280 + 40p = 800 - 50p

In order to determine the value of p, take the following steps:

Combine similar terms: 800 + 280 = 40p + 50p

Add similar terms = 1080 = 90p

Divide both sides of the equation by 90 : 1080 / 90 = 12

To learn more about equilibrium, please check: brainly.com/question/26075805

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