A certain manufacturer has determined that the weekly demand and supply functions for their product are given by the equations: supply: demand: p=-2x² +80 p = 15x+30 where a represents the quantity demanded in units of a thousand and p is the unit price in dollars. Find the market equilibrium (equilibrium price and equilibrium quantity).

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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A certain manufacturer has determined that the weekly demand and supply
functions for their product are given by the equations:
supply:
p=-2x² +80
demand: p = 15x+30
where z represents the quantity demanded in units of a thousand and p is the unit
price in dollars. Find the market equilibrium (equilibrium price and equilibrium
quantity).
Transcribed Image Text:A certain manufacturer has determined that the weekly demand and supply functions for their product are given by the equations: supply: p=-2x² +80 demand: p = 15x+30 where z represents the quantity demanded in units of a thousand and p is the unit price in dollars. Find the market equilibrium (equilibrium price and equilibrium quantity).
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