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12 July, 04:20

The demand for your hand-made skateboards, in weekly sales, is q = - 3p + 700 if the selling price is $p. You are prepared to supply q = 2p - 500 per week at the price $p. What price should you sell your skateboards for so that there is neither a shortage nor a surplus?

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  1. 12 July, 07:10
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    you should sell your skateboards at $240

    Explanation:

    The price p to sell your skateboards for so that there is neither a shortage nor a surplus is the price that makes equal the quantity of sales and the quantity of supply, so p is equal to:

    q (sales) = q (supply)

    -3p + 700 = 2p - 500

    700 + 500 = 2p + 3p

    1200 = 5p

    1200/5 = p

    $240 = p
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