For a certain item the demand function is p = D(q) = \frac{30}{q+4}, and the supply function is p = S(q) = q + 5. Find the equilibrium price $p_e$ (not the quantity). Answer: $p_e$ = Number
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q = p + 4 p = q + 5 Setting these two equations equal to each other, we get: p + 4 = q + 5 Show more…
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