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Advanced MathQ&A LibraryThe demand equation for the BWS Bluetooth wireless loudspeaker isp = −0.03x + 210where x is the quantity demanded per month and p is the unit price in dollars. The corresponding supply equation is given byp = 0.015x + 30where x is the quantity demanded per month and p is the unit price in dollars. Find the equilibrium quantity and the equilibrium price for the BWS Bluetooth wireless loudspeakers.equilibrium quantity unitsequilibrium price $Question

Asked Jan 25, 2020

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The demand equation for the BWS Bluetooth wireless loudspeaker is

p = −0.03x + 210

where *x* is the quantity demanded per month and *p* is the unit price in dollars. The corresponding supply equation is given by

p = 0.015x + 30

where *x* is the quantity demanded per month and *p* is the unit price in dollars. Find the equilibrium quantity and the equilibrium price for the BWS Bluetooth wireless loudspeakers.

equilibrium quantity | units | |

equilibrium price | $ |

Step 1

The equilibrium point is the point where demand equation and supply equation is equal.

Step 2

Determine the equilibrium point.

Step 3

Calculate equilibrium price by substitu...

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