Solve Problems Using Systems of Linear Equations
-As the Price $\mathrm { N } = - 3 \mathrm { p } + 780$

question 58

Multiple Choice

Solve Problems Using Systems of Linear Equations
-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: $\mathrm { N } = - 3 \mathrm { p } + 780$
Supply: $\quad N = 2.5 p$
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) \(\$ 141.82 ; 355\)
• B) \(\$ 1560.00 ; 3900\)
• C) \(\$ 310.80 ; 777\)
• D) \(\$ 141.82 ; 362\)

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Definitions:

Standard Machine-Hours

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Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the standard cost of the variable overhead that should have been incurred based on the actual activity level.

Critical Part

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