story problem?

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If p is the price of an item in dollars, and q is the supply in the first equation and the demand in the other, find the equilibrium price and the equilibrium supply/demand.
price and supply: p=80-(3/5q)
price and demand: p=(2/5q)

thanks

2006-12-09 07:42:57 · 2 answers · asked by Anonymous in Social Science ➔ Economics

2 answers

the equilibrium price is when supply p=demand.p
so set 80-(3/5q)=(2/5q) solve for q and put answer into either equation to get price

2006-12-09 16:36:11 · answer #1 · answered by meg 7 · 0⤊ 0⤋

Jake, Rachel, David, and Anne are in line for the movies. Jake is behind Anne. Anne is not in the front. David is in the back. What is the order of the kids in the line?

2006-12-09 09:45:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋