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Find the equilibrium price of ipads

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Suppose that the demand for the Kindle is given by QDk = 800-150Pk+50Pi, where QDk is the quantity demanded for Kindles, Pk is the price of a Kindle and Pi is the price of an iPad. Also assume that the demand for iPads is given by QDi = 900 - 100Pi + 20Pk. Finally, assume that the supply for Kindles and iPads are simply given by QSk = 700 + 350Pk and QSi = 800 + 300Pi. Find the equilibrium price of iPads?

Reference no: EM131344969

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