If the Supply Function for a particular product(gummie bears) is S = .85p + .3 and the Demand Function is given as D = -.15p + 1.0 p is measured in dollars and S and D are measured in pounds of gummie bears. Find the market price.
If the Supply Function for a particular product(gummie bears) is S = .85p + .3 and the Demand Function is given as D = -.15p + 1.0 p is measured in dollars and S and D are measured in pounds of gummie bears. Find the market price.
Find the value of p such that supply equals demand:
solve .85P+ .3= -.15p+ 1.0.