Answer
$$p=36$$
Work Step by Step
We know that the equilibrium point is the intersection of the supply and demand functions. Thus, we find that the equilibrium point is:
$$ 5500-40p=1000+85p\\ -125p=-4500\\ p=36$$
Elementary and Intermediate Algebra: Concepts & Applications (6th Edition)
by Bittinger, Marvin L.; Ellenbogen, David J.; Johnson, Barbara L.
Published by
Pearson
ISBN 10:
0-32184-874-8
ISBN 13:
978-0-32184-874-1
Chapter 8 - Systems of Linear Equations and Problem Solving - 8.8 Business and Economics Applications - 8.8 Exercise Set - Page 563: 26
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