SOLUTION: How do I find the equilibrium point (at which s=d) if the demand (d) is given by d=200/p and the supply is given by s=150p-200?
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Question 1141292: How do I find the equilibrium point (at which s=d) if the demand (d) is given by d=200/p and the supply is given by s=150p-200?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
Let d=s
so 200/p =150p-200
multiply by p both sides
200=150p^2-200p
rewrite as 150p^2-200p-200=0
divide everything by 50
3p^2-4p-4=0
(3p+2)(p-2)=0
p=2, only positive root
so at p=2, d=100 and s=100
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