Find the Equilibrium Point for the Following Supply and Demand

question 82

Multiple Choice

Find the equilibrium point for the following supply and demand functions below, where p is price per unit and q is the number of units produced and sold. ​
Demand: Supply: ​

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Definitions:

Car-Manufacturing Facilities

Factories or plants where automobiles are produced, involving assembly lines and complex machinery.

American Labor

Workforce or labor force in the United States, often focusing on aspects related to employment conditions, rights, and unions.

Direct Investment

A type of foreign investment where a company or individual establishes a business or acquires tangible assets in another country.

Local Market Conditions

The specific characteristics and dynamics of a market within a localized area, including factors such as demand, competition, and regulatory environment.