Find the equilibrium unit and price??
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1 Answer

2x + 7p - 56 = 0 --- (1)
3x - 11p + 45 = 0 --- (2)

From (2), we have:

11p = 3x + 45
p = (3/11)x + (45/11) --- (3)

Substituting (3) into (1), we will get:

2x + 7((3/11)x + (45/11)) - 56 = 0
(22/11)x + (21/11)x + (45/11) - (616/11) = 0
22x + 21x + 45 - 616 = 0
43x - 571 = 0
43x = 571
x = (571 / 43)

Substituting x = (571 / 43) into (3), we will get:

p = (3/11)(571 / 43) + (45/11)
p = (1713 / 473) + (1935 / 473)
p = 3648 / 473
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