Suppose a small company sells speakers. The company determines that the supply function for speakers is given by S(x)=100x−50, and the demand function for speakers is given by D(x)=500−20x, where x is the speaker price. Determine the equilibrium price. Give your answer in dollars and cents to the nearest cent. Do not include the dollar symbol in your answer.

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05-10-2022
Mathematics

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Suppose a small company sells speakers. The company determines that the supply function for speakers is given by S(x)=100x−50, and the demand function for speakers is given by D(x)=500−20x, where x is the speaker price. Determine the equilibrium price. Give your answer in dollars and cents to the nearest cent. Do not include the dollar symbol in your answer.

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