Question

Great Foods will soon begin producing a new line of puppy food. The marketing department predicts that the demand function will be​ D(p) = −14.99p ​+ 985.27 and the supply function will be​ S(p) = 90.85p− 6.39

What price per unit should be charged in order to have equilibrium between supply and​ demand?
​$___

Answer 1

Answer: 9.37

======================================================

Step-by-step explanation:

Equilibrium is reached when supply and demand are equal. So when D = S.

Let's solve for p

D = S

-14.99p+985.27 = 90.85p-6.39

-14.99p-90.85p = -6.39-985.27

-105.84p = -991.66

p = -991.66/(-105.84)

p = 9.36942554799698

p = 9.37

Don't forget to round to the nearest cent.