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Math Help - Simultaneous equation of two Graph line equations.?

  1. #1
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    Simultaneous equation of two Graph line equations.?

    Hi, i have two graphs
    One that is Price against Demand. this has the line equation of
    P(price) = 21 - 3/2 d (demand)

    the second graph is price against supply which has the line equation of
    P = 2S ( supply) + -7

    Now then what i need to know how to do is, how to find out the price at which SUpply and demand are the same, by using a Simultaneous equation. I already know its 9 by putting them on the same graph but i need to do it with a Simultaneous equation thanks.

    the actual question is.
    By solving a set of two simultaneous equations find the price at which supply is equal to demand. What is the demand at such a price?
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by ad4m101 View Post
    Hi, i have two graphs
    One that is Price against Demand. this has the line equation of
    P(price) = 21 - 3/2 d (demand)

    the second graph is price against supply which has the line equation of
    P = 2S ( supply) + -7

    Now then what i need to know how to do is, how to find out the price at which SUpply and demand are the same, by using a Simultaneous equation. I already know its 9 by putting them on the same graph but i need to do it with a Simultaneous equation thanks.

    the actual question is.
    By solving a set of two simultaneous equations find the price at which supply is equal to demand. What is the demand at such a price?
    When supply=demand put supply=demand=x, then you want a solution of the equation:


    21 - (3/2) x=2x -7

    which represents the equality of the supply and demand at price x.

    CB
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