suppos the quantity supplied S and quantity demanded D of ba

suppos the quantity supplied S and quantity demanded D of baseball caps at a major league game are given by the functions S(p)= 3230 - 90p and D(p)=100p, where p is the price. find the equilibrium price for caps at the game. then find the equilibrium quantity.

Solution

S(p)= 3230 - 90p -----> Supply

D(p) = 100 p ----> Demand

the equilibrium quantity. when : Demand = Supply

So, 3230 - 90p = 10p

190p = 3230

p = 17 numbers of cap