Respuesta :
The equilibrium quantity is 3 thousands and the equilibrium price is $2.
Explanation
Given equations.....
[tex]2x+3p-12=0........................(1)\\ \\ 3x-11p+13=0......................(2)[/tex]
Here, [tex]x[/tex] represents the quantity demanded in units of 1000 and [tex]p[/tex] is the unit price in dollars. For finding the equilibrium quantity and the equilibrium price, we need to solve this system of equations for [tex]x[/tex] and [tex]p[/tex].
Multiplying equation (1) by 11 and equation (2) by 3 , we will get....
[tex]22x+33p-132=0\\ \\ 9x-33p+39=0[/tex]
Now, adding the above two equations, we will get....
[tex]31x-93=0\\ \\ 31x=93\\ \\ x=\frac{93}{31}=3[/tex]
Plugging this [tex]x=3[/tex] into equation (1)........
[tex]2(3)+3p-12=0\\ \\ 6+3p-12=0\\ \\ 3p-6=0\\ \\ 3p=6\\ \\ p=\frac{6}{3}=2[/tex]
So, the equilibrium quantity is 3 thousands and the equilibrium price is $2.
