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

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Question 100158: 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!
D=S OR:
-200P+35,000=-P^2+400P-20,000
P^2-200P-400P+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+
X=(600+-SQRT[-600*-600-4*1*55000])/2*1
X=(600+-SQRT[360,000-220,000])/2
X=(600+-SQRT140000])/2
X=(600+-374.1657)/2
X=(600+374.1657)/2
X=974.1657/2
X=487 ANSWER FOR THE EQUILIBRIUM PRICE.
X=(600-374.1657)/2
X=228.8343/2
X=112.9 ANSWER.