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

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 Click here to see ALL problems on Expressions-with-variables 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(57400)   (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.