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 103667: 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(57377) About Me  (Show Source):
You can put this solution on YOUR website!
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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-p^2+30p-8 = -5p+40
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.