SOLUTION: The demand and supply equations for a certain item are given by
D=-5p+40
S=-p^2+30p-8
Find the equilibrium price.
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Question 102542: The demand and supply equations for a certain item are given by
D=-5p+40
S=-p^2+30p-8
Find the equilibrium price.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
D=-5p+40
S=-p^2+30p-8
Find the equilibrium price.
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-5p+40 = -p^2+30p-8
p^2-35p+48=0
p = [35 +- sqrt(35^2-4*48)]/2
p = [35 +- sqrt(1033)]/2
p = [35 +- 32.14]/2
p = 33.57 or p = 1.43
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Cheers,
Stan H.
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