Final answer:
To find the market equilibrium point, we set the quantity demanded equal to the quantity supplied and solve for price and quantity. However, without a clear demand function provided, a precise numerical solution cannot be given here.
Step-by-step explanation:
The student's question is about finding the market equilibrium point for a product, given its supply and demand functions. The equilibrium point occurs when the quantity demanded (Qd) equals the quantity supplied (Qs). Solving the equations algebraically by setting the demand function equal to the supply function will give us the equilibrium price (P) and quantity (Q).
To find the equilibrium, we can write the supply function as Qs = P - 1, from the given equation 2p - 2q - 2 = 0. Next, we must clarify the demand function presented as (p-10)(q-130)=7200. Upon setting Qd = Qs, we derive a single equation with P and Q. Solving this will render the equilibrium price and quantity.
Without the clear demand function, however, we cannot provide an exact numerical answer. Instead, to demonstrate the approach, here's a general example: If we have a demand equation like Qd = 16 - 2P, setting it equal to the supply function Qs = P - 1 gives us 16 - 2P = P - 1. Solving for P, we find the equilibrium price, and substituting back, we find the equilibrium quantity.