Question

When the price of a product is P dollars each, suppose that the manufacturer will supply 2P -100 units of a product to the market, and consumers will demand to buy 200 -3P units. At the value of P units. At the value of P

A)P=50
B)P=40
C)P=30
D)P=25

Answer 1

The price of the product is P = 60.

Step-by-step explanation:

The question is asking to find the price (P) of a product that satisfies both the supply and demand equations. The supply equation is given as 2P - 100 units and the demand equation is given as 200 - 3P units. To find the value of P, we need to set the supply and demand equations equal to each other and solve for P.

Setting 2P - 100 = 200 - 3P, we can simplify the equation to find the value of P. Combining like terms, we get 5P = 300. Dividing both sides by 5, we find that P = 60.

Therefore, the answer is P = 60.