Question

When the price of a product is p dollars each, suppose that a manufacturer will supply 2p - 22 units of the product to the market and that consumers will demand to buy 170 - 4p units. At the value of p for which supply equals demand, the market is said to be in equilibrium. Find this value of p. The value of p is

Answer 1

The value of p at which supply equals demand is $32.

Step-by-step explanation:

Using the given information, we have the equation:

2p - 22 = 170 - 4p

Combining like terms, we get:

6p = 192

Dividing both sides by 6, we find that:

p = 32

Therefore, the value of p at which supply equals demand is $32.