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Solve the Problem p=10010xp = 100 - 10 x \quad Demand Curve

Question 248

Multiple Choice

Solve the problem.
-Use inverse matrices to find the equilibrium point for the demand and supply curves below.
p=10010xp = 100 - 10 x \quad Demand curve
p=30+5xp = 30 + 5 x \quad Supply curve


A) (203,1903) \left( \frac { 20 } { 3 } , \frac { 190 } { 3 } \right)
B) (70,380) ( 70,380 )
C) (143,1603) \left( \frac { 14 } { 3 } , \frac { 160 } { 3 } \right)
D) (263,2203) \left( \frac { 26 } { 3 } , \frac { 220 } { 3 } \right)

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