The Demand Equation for a Certain Brand of Fax Machine

Essay

The demand equation for a certain brand of fax machine is 5x + p - 2,350 = 0, where x is the quantity demanded per week and p is the unit price in dollars. The supply equation is 4x - 5p + 1,600 = 0, where x is the quantity the supplier will make available in the market when the unit price is p dollars. Find the equilibrium quantity and the equilibrium price for the fax machines.
equilibrium quantity __________ units
equilibrium price $ __________