SOLUTION: 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^2+400p-20,000 Find the equilibrium price.

Algebra ->  Finance -> SOLUTION: 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^2+400p-20,000 Find the equilibrium price.      Log On


   

Question 125192: 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^2+400p-20,000
Find the equilibrium price.
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
-200P+35,000=-P^2+400P-20,000
P^2-400P-200P+35,000+20,000=0
P^2-600P+55,000=0
USING THE QUADRATIC EQUATION WE GET:x+=+%28-b+%2B-+sqrt%28+b%5E2-4%2Aa%2Ac+%29%29%2F%282%2Aa%29+
P=(600+-SQRT[-600^2-4*1*55,000])/2*1
P=(600+-SQRT[360,000-220,000])/2
P=(600+-SQRT140,000)/2
P=(600+-374.166)/2
P=(600+374.166)/2
P=487 ANSWER.
P=(600-374.166)/2
P=225.8/2
P=112.9 ANSWER.