Find the Equilibrium Point of the Demand and Supply Equations $p$

question 120

Multiple Choice

Find the equilibrium point of the demand and supply equations. (The equilibrium point is the price $p$ and number of units $x$ that satisfy both the demand and supply equations.)
$$\begin{array} { l l } \text { Demand } & \text { Supply } \\p = 130 - 0.09 x & p = 0.4 x - 115\end{array}$$

• A) \(( 500,85 )\)
• B) \(( 200,112 )\)
• C) \(( 835,219 )\)
• D) \(( 300,103 )\)
• E) inconsistent

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Definitions:

Budgeted Cost

An estimate of all financial resources allocated for specific activities or the entire project.

Earned Value

A project management metric that measures project performance by comparing the work performed's value to the planned value and actual cost.

Actual Cost

The total expense incurred for a project, activity, or item, reflecting the real financial expenditure.

Cost Variance

The difference between the budgeted or estimated cost of a project and the actual cost incurred.