The area is 864 square, or 6 square feet.
Answer:
56.55 inches
Step-by-step explanation:
At the equilibrium price p, we can solve for the quantity of goods x :
demand = supply
5200 - 0.0005x = 2800 + 0.0003x
2400 = 0.0008x
x = 3,000,000
With this quantity of goods, the equilibrium price is
p = 5200 - 0.0005 (3,000,000)
p = 5200 - 1500
p = 3700
To solve this equation, lets move all of the variables to one side of the equation and the constants to the other.
0.12x - 1.5 = 0.24x - 0.06
Subtract 0.12x from both sides of the equation
-1.5 = 0.12x - 0.06
Add 0.06 to both sides of the equation
-1.44 = 0.12x
Divide both sides by 0.12 to isolate x
x = -12