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     $

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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