SOLUTION: The demand and supply curves for a good are given as Pd=100-(q+4)^2 and Ps=(q+2)^2 respectively where q is in thousands. Find the equilibrium price and quantity of the good.
Algebra.Com
Question 1101028: The demand and supply curves for a good are given as Pd=100-(q+4)^2 and Ps=(q+2)^2 respectively where q is in thousands. Find the equilibrium price and quantity of the good.
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
100-(q+4)²=(q+2)²
100-q²-8q-16=q²+4q+4
2q²+12q-80=0
q²+6q-40=0
(q+10)(q-4)=0
q=4,-10
The equilibrium quantity is 4000
100-64=36
The equilibrium price is 36
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