SOLUTION: Solve.
The demand equation for a certain type of printer is given by d = -200p + 35,000. The supply equation is predicted to be s = -p squared + 400p - 20,000. Find the equilibr
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-> SOLUTION: Solve.
The demand equation for a certain type of printer is given by d = -200p + 35,000. The supply equation is predicted to be s = -p squared + 400p - 20,000. Find the equilibr
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Question 122754: Solve.
The demand equation for a certain type of printer is given by d = -200p + 35,000. The supply equation is predicted to be s = -p squared + 400p - 20,000. Find the equilibrium price. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! The demand equation for a certain type of printer is given by d = -200p + 35,000. The supply equation is predicted to be s = -p squared + 400p - 20,000. Find the equilibrium price.
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Equilibrium occurs when demand = supply
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-p^2+400p-20,000 = -200p+35000
p^2-600p+55000 = 0
p=[600 +- sqrt(600^2-4*55000)]/2
p=[600 +- sqrt(140000)]/2
p = $112.92 or p=$487.08
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Cheers,
Stan H.
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