Question

How do you algebraically solve for equilibrium using supply and demand equations?

Answer 1

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Answer 2

How do you find the equilibrium price with a supply and demand function?

To determine the equilibrium price, do the following.

Set quantity demanded equal to quantity supplied:

Add 50P to both sides of the equation. You get.

Add 100 to both sides of the equation. You get.

Divide both sides of the equation by 200. You get P equals $2.00 per box. This is the equilibrium price.