The Demand Equation for a Certain Brand of Fax Machine

question 156

Essay

The demand equation for a certain brand of fax machine is 5x + p - 2,350 = 0, where x is the quantity demanded per week and p is the unit price in dollars. The supply equation is 4x - 5p + 1,600 = 0, where x is the quantity the supplier will make available in the market when the unit price is p dollars. Find the equilibrium quantity and the equilibrium price for the fax machines.
equilibrium quantity __________ units
equilibrium price $ __________

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Definitions:

G Suite

A collection of cloud-based services and tools provided by Google for business, including email, document editing, and collaboration software.

OpenOffice

A free, open-source office software suite for word processing, spreadsheets, presentations, graphics, databases, and more.

Apple IWork

A suite of productivity software developed by Apple Inc., including Pages, Numbers, and Keynote, designed for document creation, spreadsheet management, and presentation development.

Responsive Design

An approach to web design aimed at crafting sites to provide an optimal viewing and interaction experience across a wide range of devices.