Solve the Problem $\quad N = - 4 p + 780$

question 134

Multiple Choice

Solve the problem.
-As the price of a product increases, the demand for that product decreases. However, at higher prices, suppliers are willing to produce greater quantities of the product. The weekly supply and demand models for a certain type of television are as follows:
Demand: $\quad N = - 4 p + 780$
Supply: $\quad N = 2.6 p$
where $\mathrm { p }$ is the price in dollars per television.
Find the price at which supply and demand are equal. At this price, how many televisions can be supplied and sold each week?

• A) \(\$ 118.18 ; 325\)
• B) \(\$ 298.46 ; 776\)
• C) \(\$ 118.18 ; 307\)
• D) \(\$ 557.14 ; 1449\)