SOLUTION: I am having a problem with this word problem, I am not good at them and need some help.
Business and finance : The demand eqaurion for a certain type of printer is given by D=2
Question 91978: I am having a problem with this word problem, I am not good at them and need some help.
Business and finance : The demand eqaurion for a certain type of printer is given by D=200p+35000.
The supply equation is predicted to be S= -P^2+400p-20000
Find the equalibrium price.
Thanks a million Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Business and finance : The demand eqaurion for a certain type of printer is given by D=200p+35000.
The supply equation is predicted to be S= -P^2+400p-20000
Find the equalibrium price.
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Equilibrium occurs when supply equals demand:
-p^2+400p-20000 = 200p+35000
p^2-200p+15000=0
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p = [200+-sqrt(200^2-4*-1*15000)]/(-2)
p = [200+-sqrt(100000)]/(-2)
p = [200+-100sqrt(10)]/(-2)
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Get the positive solution:
p = [200 - 100sqrt(10)]/(-2)
p = $58.11
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Cheers,
Stan H.
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