The supply and demand functions for q hundred boxes of napkins at a price p dollars per box are given by: Supply:p−√q=1 Demand:q+p=7 Find the equilibrium price and quantity.

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asked Sep 2, 2021 33.4k views

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The supply and demand functions for q hundred boxes of napkins at a price p dollars per box are given by:

Supply:p−√q=1 Demand:q+p=7
Find the equilibrium price and quantity.

Mathematics
middle-school

Rhyek asked

by Rhyek

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$p - √(q) = 1 \\ q + p = 7$

p = 7 - q

$7 - q - √(q) = 1 \\ - q - √(q ) = - 6 \\ q + √(q ) = 6 \\ q = 4$

p = 7 - 4 = 3

HiQ CJ answered Sep 6, 2021

by HiQ CJ

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