Question

Find the equilibrium point for the supply and demand functions below. Enter your answer as an ordered pair. S(x)=4x+5D(x)=44−9x

Answer 1

The equilibrium point for the supply and demand functions is (3, 17).

Step-by-step explanation:

The equilibrium point for the supply and demand functions can be found by setting the quantity demanded equal to the quantity supplied. The supply function is given by S(x) = 4x + 5, and the demand function is given by D(x) = 44 - 9x. To find the equilibrium point, we set these two functions equal to each other:

4x + 5 = 44 - 9x

Combining like terms, we get:

13x = 39

Dividing both sides by 13, we get:

x = 3

Substituting this value back into either the supply or demand function, we can find the corresponding price at the equilibrium point. Let's use the supply function:

S(3) = 4(3) + 5 = 17

Therefore, the equilibrium point is (3, 17).