Question

PLSSSSS

• Demand equation: 0.7x + y = 340
Supply equation: -1.5x + y = 320
1. Solve the system algebraically to determine the balance point between
supply and demand.

Answer 1

Explanation:

Subtract equation 2 from equation 1

.7x+y-(-1.5x+y)=340-320

.7x+y+1.5x-y=20

2.2x=20

x=100/11, then use this in either original equation to find y.

.7(100/11)+y=340

y=3670/11, so the balance point is

(100/11, 3670/11)