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katrin2010 [14]
3 years ago
14

Suppose the quantity demanded, q, of a product when the price is p dollars is given by the equation p = 462 − 5 q , and the quan

tity supplied is given by the equation p = 2 q . Find the equilibrium price and quantity.
Mathematics
1 answer:
Elena L [17]3 years ago
5 0

Answer:

q = 66

P = 132

Step-by-step explanation:

To get the equilibrium price, we need to find the price at which the quantity demanded equals the quantity supplied.

Now we equate the equations of the demanded quantity and the supplied quantity:

462 - 5q = 2q

7q = 462

q = 462/7 = 66

The price at this level is obtained by substituting the value of q into any of the equation

Using P = 2q

P = 2 * 66 = 132

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Answer:

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Step-by-step explanation:

We are given a candle in a form of a cylinder and a cone

Dimensions;

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We are required to determine the amount that it can hold.

To answer the question we are going to determine its volume

Cylinder;

Volume of a cylinder is given by;

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Taking π to be 3.14

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Volume of cylinder = 3.14 × 5mm² × 20 mm

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Thus, the volume of the solid is 1779.33 mm³

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Step-by-step explanation:

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