Answer:
The equilibrium point is at x = 6
Step-by-step explanation:
Given
[tex]Demand (q) = \frac{18}{x}[/tex]
[tex]Supply (q) = \frac{x}{2}[/tex]
Required
Determine the equilibrium point
The equilibrium point is determined by
[tex]Demand = Supply[/tex]
Substitute values for Demand and Supply
[tex]\frac{18}{x} = \frac{x}{2}[/tex]
Cross Multiply
[tex]x * x = 18 * 2[/tex]
[tex]x^2 = 36[/tex]
Take positive square root of both sides
[tex]x = 6[/tex]
Hence;
The equilibrium point is at x = 6
