SOLUTION: Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given.
Supply: p=q^2+20q Demand: p=-2q^2+10q+5200
The equilibrium
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Question 1154482: Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given.
Supply: p=q^2+20q Demand: p=-2q^2+10q+5200
The equilibrium quantity is q=____
Answer by MathLover1(20849) (Show Source): You can put this solution on YOUR website!
Supply:
Demand:
The equilibrium is when supply=demand
...factor
-> we need only positive solution
so,
The equilibrium quantity is .
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