SOLUTION: Please help! The demand and supply equations for a certain item are given by: D= -5p +40 S= -p^2+30p-8 Find the equilibrium price?

Question 83065: Please help!
The demand and supply equations for a certain item are given by:
D= -5p +40
S= -p^2+30p-8
Find the equilibrium price?
Found 2 solutions by stanbon, scott8148:
Answer by stanbon(75887) (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?
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Equilibrium means supply = demand
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EQUATION:
-p^2+30p-8 = -5p+40
p^2-35p+48=0
p=[35+-sqrt(35^2-4*48]/2
p = [35+-32.14]/2
p = 1.43 or or 33.57
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Cheers,
Stan H.
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
equilibrium means supply and demand are equal, so -5p+40=-p^2+30p-8 or p^2-35p+48=0

using quadratic formula ... p=33.57 and p=1.43

not an economist, so not sure what 2 answers means
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