Find the equilibrium point for the following pair of demand and supply functions. D(p) = 8000 – 15p S(p) = 7000 + 5p What are the coordinates of the equilibrium point? (Type an ordered pair.)

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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Find the equilibrium point for the following pair of demand and supply functions.
D(p) = 8000 – 15p
S(p) = 7000 + 5p
What are the coordinates of the equilibrium point?
(Type an ordered pair.)
Transcribed Image Text:Find the equilibrium point for the following pair of demand and supply functions. D(p) = 8000 – 15p S(p) = 7000 + 5p What are the coordinates of the equilibrium point? (Type an ordered pair.)
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