document.write( "Question 1049260: If the supply function for a commodity is 11p+3q=66 and the demand function is 2p^2 =10-p+q, determine the equilibrium quantity and equilibrium price. \n" ); document.write( "

Algebra.Com's Answer #664856 by robertb(5830) $\"\"$ $\"About$

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11p+3q=66 ===> $\"q+=+22-%2811%2F3%29p\"$ \r
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\n" ); document.write( "\n" ); document.write( "===> $\"2p%5E2+=10-p%2Bq+=+10-p%2B++22-%2811%2F3%29p+=+32+-+%2814%2F3%29p\"$ \r
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\n" ); document.write( "\n" ); document.write( "===> $\"2p%5E2+=+32+-+%2814%2F3%29p\"$ ===> $\"3p%5E2+%2B+7p+-48+=+0\"$ \r
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\n" ); document.write( "\n" ); document.write( "===> (p-3)(3p +16) = 0 ====> p = 3, -16/3.\r
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\n" ); document.write( "\n" ); document.write( "===> equilibrium price is 3 currency units, and equilibrium quantity is q = 11 units. \n" ); document.write( "

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