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 104076: 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 elima(1433) (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
Equilibrium is when supply = demand;
Use quadratic equation to solve;
Now we two equations to solve, because we have 35+ and 35-;
P=33.57
P=1.43
:)
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