He demand equation for the ti-83 graphing calculator is x+3p−648=0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. the supply equation is x−21p+840=0, where x is the quantity the supplier will make availbale in the market each week when the wholesale price is p dollars each. find the equilibrium quantity and the equilibrium price for the calculators.

The equilibrium quantity is 462 and the equilibrium price is $62

Explanation:

The equilibrium quantity and price means that the price and quantity demanded and supplied are the same and is calculated by solving the demand and supply equations simultaneously

X + 3p = 648 ---(1)

X-21p = -840 (2)

Use elimination method since the coefficient of x in both equation is 1

Equation (1) - (2): x - x + 3p - (-21p) = 648 - (-840)

3p+21p = 648+840

24p = 1488

p = 1488/24 = 62

Substitute the value of p into equation (1)

x + 3p = 648

x + 3(62) = 648

x + 186 = 648

x = 648 - 186 = 462

Therefore, equilibrium quantity (x) = 462 and equilibrium price (p) = $62

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