Problem

Market Equilibrium The demand for a certain brand of women’s shoes is given by 3q + p = 34...

Market Equilibrium The demand for a certain brand of women’s shoes is given by 3q + p = 340, and the supply of these shoes is given by p − 4q = −220, where p is the price in dollars and q is the number of pairs at price p. Solve the system containing these two equations to find the equilibrium price and the equilibrium quantity.

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