The Demand Equation for a Certain Brand of GPS Navigator

question 171

Essay

The demand equation for a certain brand of GPS Navigator is x + 3p - 765 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation is
x - 18p + 390 = 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.
equilibrium quantity __________ units
equilibrium price $ __________

---

Definitions:

Activity

Any action or series of actions performed by individuals or groups, often aimed at achieving a particular goal or outcome.

Liquidity

A measure of how easily assets can be converted into cash without significant loss in value.

Not-For-Profit Organization

An organization that operates for purposes other than making a profit, often focusing on social, educational, or charitable activities.

Income Statement

A financial statement that reports a company's financial performance over a specific period, detailing revenues, expenses, and net income or loss.