Answer:
0.66666667
Step-by-step explanation:
Answer:
The equilibrium quantity is 26.4
Step-by-step explanation:
Given


Required
Determine the equilibrium quantity
First, we need to determine the equilibrium by equating Qd to Qs
i.e.

This gives:

Collect Like Terms


Solve for P


This is the equilibrium price.
Substitute 2.4 for P in any of the quantity functions to give the equilibrium quantity:



<em>Hence, the equilibrium quantity is 26.4</em>
Y - 190 = 55(x - 2)....distribute thru the parenthesis
y - 190 = 55x - 110....now add 190 to both sides
y = 55x - 110 + 190..simplify
y = 55x + 80 <== slope intercept form (y = mx + b)
Answer:
2.66 or 2 2/3
Step-by-step explanation: