The Demand Equation for a Certain Brand of GPS Navigator

question 192

Multiple Choice

The demand equation for a certain brand of GPS Navigator is x + 5p - 425 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation is x - 17p + 1,005 = 0, where x is the quantity the supplier will make available in the market when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.

• A) equilibrium quantity 100 units; equilibrium price $65
• B) equilibrium quantity -10 units; equilibrium price $70
• C) equilibrium quantity -10 units; equilibrium price $65
• D) equilibrium quantity 100 units; equilibrium price $70

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