SOLUTION: I am having problems with this word problem. The demand and supp;y equations for a certain item are given by D=-5p+40 S=-p^2+30-8 find the equilibrium price. Thanks a

Question 92925: I am having problems with this word problem.

The demand and supp;y equations for a certain item are given by
D=-5p+40
S=-p^2+30-8
find the equilibrium price.
Thanks a million
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Find the equilibrium price, p, for the Demand and Supply equations:

I assume that you had a typo in your post because you had written:
The equilibrium occurs when demand, D, equals supply, S.
Let's put this into a standard-form quadratic equation:
.
Solve using the quadratic formula:

or
The final answer is that there are two equilibrium prices:
p = $33.57 or p = $1.43

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