Ask Question
20 April, 03:22

The value p (price) at which the supply of a crop equals the demand for that crop is called the equilibrium price. The equation for the supply of soy beans is S = 0.3p + 3 The equation for the demand of soybeans is D = - 0.5p + 9. Determine the equilibrium price.

+5
Answers (1)
  1. 20 April, 04:08
    0
    Supply of a crop equals the demand

    S=D

    0.3p + 3=-0.5p + 9

    put like terms on same side

    0.3p+0.5p=9-3

    0.8p=6

    p=6/0.8 = 7.5
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The value p (price) at which the supply of a crop equals the demand for that crop is called the equilibrium price. The equation for the ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers