SOLUTION: Please help I do not know where to start or finish. Business and Finance. The demand equation for a certain type of printer is given by: D = -200p + 35,000 The supply equation i

Question 78365: Please help I do not know where to start or finish.
Business and Finance. The demand equation for a certain type of printer is given by:
D = -200p + 35,000
The supply equation is predicted to be:
S = -p^2 + 400p � 20,000
Find the equilibrium price.

Answer by dolly(163) (Show Source): You can put this solution on YOUR website!
The equilibrium is achieved when the demand = supply
==> -200p + 35,000 = -p^2 + 400p � 20,000
Adding p^2 - 400p + 20000 to both sides we get,
==> p^2 - 400p + 20000 - 200p + 35000 = 0
==> p^2 - 600p + 55000 = 0
==>
applying the quadratic formula.
==>
==>
==> p = 112.9 or 487.1
Thus the equilibrium price is 112.9 or 487.1
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