Great Foods will soon begin producing a new line of puppy food. The marketing department predicts that the demand function will be​ D(p) = −

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?
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Xavia 4 years 2021-08-18T21:51:46+00:00 1 Answers 7 views 0

Answers ( )

  1. Thunguyet
    0
    2021-08-18T21:53:44+00:00
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    Answer:  9.37

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

    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.

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