SOLUTION: The demand equation for a certain type of printer is given by: D = -200p + 35,000 The supply equation is predicted to be: S = -p^2 + 400p - 20,000 Find the equilibrium price.

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Question 65747: The demand equation for a certain type of printer is given by:
D = -200p + 35,000
The supply equation is predicted to be:
S = -p^2 + 400p - 20,000
Find the equilibrium price.
This question has me completely lost on how to start, middle, end, or answer. Hope there is some help out there for this one. Thank you very very much
Answer by Nate(3500)   (Show Source): You can put this solution on YOUR website!
When your supply meets (=) the demand, you have fulfilled equillibrium.
Supply = Demand
-p^2 + 400p - 20,000 = -200p + 35,000
0 = p^2 - 600p + 55,000
Solved by pluggable solver: SOLVE quadratic equation with variable
Quadratic equation (in our case ) has the following solutons:



For these solutions to exist, the discriminant should not be a negative number.

First, we need to compute the discriminant : .

Discriminant d=140000 is greater than zero. That means that there are two solutions: .




Quadratic expression can be factored:

Again, the answer is: 487.082869338697, 112.917130661303. Here's your graph:
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