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Math Help - Supply Demand Function Questions

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    Exclamation Supply Demand Function Questions

    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.
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  2. #2
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    Quote Originally Posted by tamaram1120 View Post
    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.
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