SOLUTION: Demand: p=840-12q Supply=7q^2+2q Find the equilibrium price and quantity.

Question 953448: Demand: p=840-12q Supply=7q^2+2q
Find the equilibrium price and quantity.
Answer by MathLover1(20849) (Show Source): You can put this solution on YOUR website!
equilibrium: the price and quantity that correspond to the point where supply and demand intersect (where Demand= Supply)
Demand:

solutions:
if =>
if =>...disregard this solution, the quantity cannot be negative
so, your solution is:-----quantity
now find

--------price
intersection point is at (,)=(,)

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