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Advanced MathQ&A LibraryThe demand equation for the Drake GPS Navigator is x + 4p − 480 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation x − 16p + 1000 = 0, where x is the quantity the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators. equilibrium quantity units equilibrium price $Start your trial now! First week only $4.99!*arrow_forward*

Question

The demand equation for the Drake GPS Navigator is

x + 4p − 480 = 0,

where *x* is the quantity demanded per week and *p* is the wholesale unit price in dollars. The supply equation

x − 16p + 1000 = 0,

where *x* is the quantity the supplier will make available in the market each week when the wholesale price is *p* dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators.

equilibrium quantity | units | |

equilibrium price | $ |

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