SOLUTION: The demand and supply equations for a certain item are given by D = �5p + 40 S = �p2 + 30p � 8 Find the equilibrium price

Question 71032: The demand and supply equations for a certain item are given by
D = �5p + 40
S = �p2 + 30p � 8
Find the equilibrium price

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The demand and supply equations for a certain item are given by
D = �5p + 40
S = �p2 + 30p � 8
Find the equilibrium price
------
Equilibrium occurs when supply equals demand.
-p^2+30p-8 = -5p+40
-p^2+35p-48=0
p^2-35p+48=0
Use the quadratic formula to get:
p = [35+-sqrt(35^2-4*48]/2
p = [35+-sqrt(1033)]/2
p = [35+-32.14]/2
p = $1.43 or p =$33.57
-------
Cheers,
Stan H.
RELATED QUESTIONS
The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by Edwin McCravy)

The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by jim_thompson5910,stanbon)

The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by stanbon)

The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by checkley71)

The demand and supply equations for a certain item are given by D=-5p+40 S=-p^2+30p-8 (answered by stanbon)

The demand and supply equations for a certain item are given by D = -5p + 40 S =... (answered by Nate)

The demand and supply equations for a certain item are given by: D=-5p+40 S=-p^2+30p-8 (answered by Nate)

Please help! The demand and supply equations for a certain item are given by: D= -5p... (answered by stanbon,scott8148)

The demand and supply equations for a certain item are given by D=-5p+40 S=-p^2+30p-8... (answered by rapaljer)