Gavin invests $5,000 in a savings account that pays 3.75% simple interest. How much will be in the account after 6 years if Gavi
1 answer:
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Answer: At $21.85, the supply will equal to demand.
Step-by-step explanation:
Since we have given that
Demand function is given by
Supply function is given by
According to question, we need to find the price for which the supply equals the demand, i.e. Equilibrium price and quantity.
So, at $21.85, the supply will equal to demand.