document.write( "Question 60760: HELP! I need assistance with this demand supply problem!
\n" ); document.write( "The demand and supply equations for a certain item are given by
\n" ); document.write( "D=-5p+40
\n" ); document.write( "S=-p^2+30p-8
\n" ); document.write( "Find the equilibrium price!
\n" ); document.write( "Thanks in advance!
\n" ); document.write( "ac \n" ); document.write( "
Algebra.Com's Answer #41722 by Edwin McCravy(20056)\"\" \"About 
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HELP! I need assistance with this demand supply problem!\r\n" );
document.write( "The demand and supply equations for a certain item are given by\r\n" );
document.write( "D=-5p+40\r\n" );
document.write( "S=-p^2+30p-8\r\n" );
document.write( "Find the equilibrium price!\r\n" );
document.write( "Thanks in advance!\r\n" );
document.write( "ac\r\n" );
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document.write( "If the SUPPLY is more than the DEMAND, then there are some left \r\n" );
document.write( "over that go to waste.\r\n" );
document.write( "If the DEMAND is more than the SUPPLY, then there is not enough \r\n" );
document.write( "to go around.\r\n" );
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document.write( "But when SUPPLY and DEMAND are equal, there is equilibrium.\r\n" );
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document.write( "So to find what price causes equilibrum we set the DEMAND equal \r\n" );
document.write( "to the SUPPLY.\r\n" );
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document.write( "            D = S\r\n" );
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document.write( "     -5p + 40 = -pē + 30p - 8\r\n" );
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document.write( "Can you solve that?\r\n" );
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document.write( "You'll have to use the quadratic formula.  There will be two\r\n" );
document.write( "solutions, p = 1.42984132 and p = 33.57015868\r\n" );
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document.write( "You have to discard the larger because that value of p causes\r\n" );
document.write( "the supply and demand to be a negative number.  So the \r\n" );
document.write( "equilibrium price rounded off to the nearest penny is\r\n" );
document.write( "$1.43 if you are in the US, or pounds of euros if you are in\r\n" );
document.write( "Europe.\r\n" );
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document.write( "Edwin
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