Question

The supply and demand functions for q hundred boxes of napkins at a price p dollars per box are given by:
Supply:p−√q=1 Demand:q+p=7
Find the equilibrium price and quantity.

Answer 1

$p - \sqrt{q} = 1 \\ q + p = 7$

$p = 7 - q$

$7 - q - \sqrt{q} = 1 \\ - q - \sqrt{q } = - 6 \\ q + \sqrt{q } = 6 \\ q = 4$

$p = 7 - 4 = 3$