The demand function is $p = 45 - x$ and the supply function is $p = 3 x + 5$. What is the equilibrium price?

Explanation

1. 01

   At equilibrium demand price equals supply price: $45 - x = 3 x + 5$, so $x_0 = 10$.

2. 02

   The price there is $p_0 = 35$.