Math  /  Algebra

QuestionSupply \& Demand In supply (and demand) problems, yy is the number of items the supplier will produce (or the public will buy) if the price of the item is xx.
For a particular product, the supply equation is and the demand equation is y=5x+320y=4x+545\begin{array}{c} y=5 x+320 \\ y=-4 x+545 \end{array}
What is the intersection point of these two lines? \square Enter answer as an ordered pair (don't forget the parentheses). What is the selling price when supply and demand are in equilibrium? price = \ \square$ /item
What is the amount of items in the market when supply and demand are in equilibrium? number of items == \square

Studdy Solution
The intersection point of the two lines is (25,445)(25, 445). The selling price when supply and demand are in equilibrium is $25\$25 /item. The number of items in the market when supply and demand are in equilibrium is 445.

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