Thirty-eight years ago George was 14 years old. How old is he now?
2 answers:
You might be interested in
In order to do this we need to make them both fractions, or both decimals. It's much easier to make them both decimals, as you can get 
into decimal form by simply dividing 1 by 5.
If 1/5 = .20, then 1/5 is greater than .15!
If 1/5 = .20, then 1/5 is greater than .15!
Answer:
The equilibrium point is (3, 3620)
Step-by-step explanation:
We set the supply and the demand equation equal to each other and solve:
We can solve by factoring:
Setting each factor equal to zero we get:
Only a positive quantity makes sense, so q=3 is the equilibrium quantity.
To get the equilibrium price we just plug 3 in place of q in any of the functions. Let us use the demand function which is easier to handle:
Therefore the equilibrium price is p=3620
In ordered pair form the equilibrium point is (3, 3620)