SOLUTION: Help required with this question If the demand function for a product is given by Psquare + 2q=1600 and the supply function is given by 200-Psquare +2q =0. Find the equilib

Algebra ->  Quadratic Equations and Parabolas  -> Quadratic Equations Lessons  -> Quadratic Equation Lesson -> SOLUTION: Help required with this question If the demand function for a product is given by Psquare + 2q=1600 and the supply function is given by 200-Psquare +2q =0. Find the equilib      Log On


   

Question 853974: Help required with this question
If the demand function for a product is given by Psquare + 2q=1600 and the supply function is given by 200-Psquare +2q =0.
Find the equilibrium quantity and equilibrium price.?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

P%5E2+%2B+2q+-+1600+=+200-P%5E2+%2B+2q

  2P^2 = 1800

   P^2 = 900     (Tossing out the negative solution for unit measure)

   P = 30, Price

 900 + 2q = 1600

       2q = 700

        q = 350, the quanity