SOLUTION: Could someone please help me solve this word problem? The demand equation for a certain type of printer is given by {{{D=-200p+35000}}} The supply equation is predicted to be

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Question 101578: Could someone please help me solve this word problem?
The demand equation for a certain type of printer is given by

The supply equation is predicted to be
Find the equilibrium price.
Answer by edjones(8007)   (Show Source): You can put this solution on YOUR website!
I am guessing that when supply=demand then there is equilibrium and the demand equation equals the supply equation.
-200p+35000=-p^2+400p-20000
p^2-600p+55000=0
p=113, p=487
Ed
Solved by pluggable solver: SOLVE quadratic equation (work shown, graph etc)
Quadratic equation (in our case ) has the following solutons:



For these solutions to exist, the discriminant should not be a negative number.

First, we need to compute the discriminant : .

Discriminant d=140000 is greater than zero. That means that there are two solutions: .




Quadratic expression can be factored:

Again, the answer is: 487.082869338697, 112.917130661303. Here's your graph:
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