Supply and demand for a product are both a linear function of price. suppose that if a price of $8 is charged, 8 units will be demanded; that if a price of $5 is charged, 20 units will be demanded; that if a price of $3 is charged, 38 units will be supplied; and that if a price of $1 is charged, 26 units will be supplied. for what price will supply equal demand?

At $2 supply and demand are in equilibrium for 32 quantity

Explanation:

We have to solve for the linear equation first, and then calcualte the equilibrium price and quantity

Demand

Then we solve for h

Demand would be y = -4x +40

We repeat the process with supply

Supply is y = 6x + 20

Now we can solve for equilibrium price

-4x + 40 = 6x + 20

20 = 10x

x = 20/ 10 = 2 price

And quantity

6 x 2 + 20 = 32

-4x2 + 40 =  32

y=mx+b is the right slope of velocity carry the 4 over

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