Question

I need it to be detailed and precise

Answer 1

Answer:

1. The supply equation is y=10x-50

2. the demand equation is y=-10x+700

3. The solution for the system of equations is (75/2,325). This means That the demand and supply will be the same when the price is 37.50$

4. Write the x-coordinates in 10's and y-coordinates in 100's. Put 2 points for supply as (10,50) and (20,150) and connect them. For demand, put 2 points as (10,600) and (20,500) then connect the 2 points.

5. A) The equilibrium point is (75/2,325)

B) this compares because you can solve a system of equations by graphing or substituting.