# Answer to Question #24865 in Calculus for Denis

Question #24865

Pair equations, one representing a supply curve and other demand curve.

a) Determine coordinates of the market equilibrium b) determine the revenue equation c) determine the revenue at market equilibrium.

Please explain how did you get the answer!!! Thanks

2p+x-300=0, 8p-x-200=0

a) Determine coordinates of the market equilibrium b) determine the revenue equation c) determine the revenue at market equilibrium.

Please explain how did you get the answer!!! Thanks

2p+x-300=0, 8p-x-200=0

Expert's answer

a) We need solve the system of two equations to find equilibrium price (p) and quantity (x). Let's do it by adding them.

/2p+x-300=0

+

\8p-x-200=0

& 10p - 500 = 0

p = 50

x = 300 - 2*50 = 200

b) The revenue equation is TR = p*x

c) TR = p*x = 50*200 = 1000

/2p+x-300=0

+

\8p-x-200=0

& 10p - 500 = 0

p = 50

x = 300 - 2*50 = 200

b) The revenue equation is TR = p*x

c) TR = p*x = 50*200 = 1000

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