Suppose the equations Y1 10002P and Y2 05P 250 describe t

Suppose the equations Y1 = 1000-2P and Y2 = 0.5P + 250 describe two lines that intersect. What is the value of P at the point of intersection? Number What is the value of Y at the point of intersection? Number

Solution

Value of P at the point of intersection = $ 300

The value of Y at the point of intersection = 400

From the table below, When P = 300; Y1 = Y2 = 400

P	Y1	Y2
0	1000	250
5	990	252.5
10	980	255
15	970	257.5
20	960	260
25	950	262.5
30	940	265
35	930	267.5
40	920	270
45	910	272.5
50	900	275
55	890	277.5
60	880	280
65	870	282.5
70	860	285
75	850	287.5
80	840	290
85	830	292.5
90	820	295
95	810	297.5
100	800	300
105	790	302.5
110	780	305
115	770	307.5
120	760	310
125	750	312.5
130	740	315
135	730	317.5
140	720	320
145	710	322.5
150	700	325
155	690	327.5
160	680	330
165	670	332.5
170	660	335
175	650	337.5
180	640	340
185	630	342.5
190	620	345
195	610	347.5
200	600	350
205	590	352.5
210	580	355
215	570	357.5
220	560	360
225	550	362.5
230	540	365
235	530	367.5
240	520	370
245	510	372.5
250	500	375
255	490	377.5
260	480	380
265	470	382.5
270	460	385
275	450	387.5
280	440	390
285	430	392.5
290	420	395
295	410	397.5
300	400	400