SOLUTION: The demand and supply equations for a certain item are given by D = �5p + 40 S = �p2 + 30p � 8 Find the equilibrium price.

Question 95457: The demand and supply equations for a certain item are given by
D = �5p + 40
S = �p2 + 30p � 8
Find the equilibrium price.

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Set the demand equal to the supply and solve for "p"
D = �5p + 40
S = �p2 + 30p � 8
Find the equilibrium price.
-----------------
-5p+40 = -p^2+30p-8
p^2-35p+48 = 0
Use the quadratic formula to find "p":
p = [35+-sqrt(35^2-4*1*48]/2
p = [35 +- sqrt(1033)]/2
p = [35 +- 32.14..]/2
p = $33.57 or p = $1.43
==========
Cheers,
Stan H.

Cheers,
Stan H.
RELATED QUESTIONS
The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by stanbon)

The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by Edwin McCravy)

The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by jim_thompson5910,stanbon)

The demand and supply equations for a certain item are given by D = �5p + 40 S... (answered by checkley71)

The demand and supply equations for a certain item are given by D=-5p+40 S=-p^2+30p-8 (answered by stanbon)

The demand and supply equations for a certain item are given by D = -5p + 40 S =... (answered by Nate)

The demand and supply equations for a certain item are given by: D=-5p+40 S=-p^2+30p-8 (answered by Nate)

Please help! The demand and supply equations for a certain item are given by: D= -5p... (answered by stanbon,scott8148)

The demand and supply equations for a certain item are given by D=-5p+40 S=-p^2+30p-8... (answered by rapaljer)