Answer
$x=\frac{1}{2}$
Work Step by Step
Step 1. Convert the bases, $\frac{1}{8}=2^{-3}$ and $16=2^4$
Step 2. Rewrite the equation as $(2^{-3})^{2x-3}=(2^4)^{x+1}$ which gives $2^{-6x+9}=2^{4x+4}$
Step 3. We have $-6x+9=4x+4$, thus $10x=5$ and $x=\frac{1}{2}$