Answer:
When the price is approximately $92.35, the demand and supply are equal.
Step-by-step explanation:
The given functions are
@@MATH_TOKEN_0@@
Where @@MATH_TOKEN_1@@ represents the supply, @@MATH_TOKEN_2@@ represents the demand and @@MATH_TOKEN_3@@ the price.
So, to determine the price for which the supply equals the demand, we just need to use the given functions as,
@@MATH_TOKEN_4@@
Then, we solve for @@MATH_TOKEN_5@@
@@MATH_TOKEN_6@@
So, using a calculator, we have
@@MATH_TOKEN_7@@
However, only the positive solution make sense to this problem, because we are looking for the price.
Therefore, when the price is approximately $92.35, the demand and supply are equal.
