Question 1
1 pts
Suppose the demand for a product is given by \( p=d(q)=-0.5 q+250 \) and the supply for the same product is given by \( p=s(q)=4.5 q \) . For both functions, \( q \) is the quantity and \( p \) is the price, in dollars.
Find the equilibrium point. Put the value for \( q \) in the space below.
\( \square \)
Question 2
1 pts
Suppose the demand for a product is given by \( p=d(q)=-0.5 q+250 \) and the supply for the same product is given by \( p=s(q)=4.5 q \) . For both functions, \( q \) is the quantity and \( p \) is the price, in dollars.
Find the equilibrium point. Put the value for \( p \) in the space below.
\( \square \)