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.

Question 87709: 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.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
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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Equilibrium means demand = supply.
EQUATION:
-200p + 35,000 = -p^2+400p-20,000
p^2-600p+55000 = 0
p = [600+sqrt(600^2-4*1*55000]/2
Positive answer:
p = $487.08
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Cheers,
Stan H.
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