document.write( "Question 1045240: Please help me with this. Detailed workings are very much appreciated, thanks!
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document.write( "The weekly demand and supply functions for a type of watch is given by
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document.write( "p=-0.1x^2-x+40 and p=0.1x^2+2x+20 respectively,
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document.write( "where p is measured in dollars and x is measured in units of a hundred. Find the equilibrium quantity and price. \n" );
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Algebra.Com's Answer #660641 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! set the two equal to each other, for then it is in equilibrium. \n" ); document.write( "-0.1x^2-x+40 =0.1x^2+2x+20, put everything on the right. \n" ); document.write( "0=0.2x^2+3x-20 \n" ); document.write( "multiply everything by 5 to make the x^2 leading coefficient 1. \n" ); document.write( "0=x^2+15x-100 \n" ); document.write( "0=(x+20)(x-5) \n" ); document.write( "x=5, since x can't equal -20 \n" ); document.write( "That is 500 watches since x is hundreds. \n" ); document.write( "now substitute into both, since they should be the same to check \n" ); document.write( "-2.5-5+40=$32.50 \n" ); document.write( "2.5+10+20=$32.50 \n" ); document.write( "That is 500 watches at $32.50 each for the equilibrium price. \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " |