SOLUTION: How let the supply function be P=Q(squared)-0.5 and the demand function be P=Q(squared)+4. (i)Algebraically,find the economically equilibrium price and quantity. (ii)Sketch the gr

Algebra ->  Quadratic Equations and Parabolas  -> Quadratic Equation Customizable Word Problems -> SOLUTION: How let the supply function be P=Q(squared)-0.5 and the demand function be P=Q(squared)+4. (i)Algebraically,find the economically equilibrium price and quantity. (ii)Sketch the gr      Log On


   

Question 483880: How let the supply function be P=Q(squared)-0.5 and the demand function be P=Q(squared)+4. (i)Algebraically,find the economically equilibrium price and quantity. (ii)Sketch the graphs on the same axes.
Answer by stanbon(75887) About Me  (Show Source):
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How let the supply function be P=Q(squared)-0.5 and the demand function be P=Q(squared)+4.
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(i)Algebraically,find the economically equilibrium price and quantity.
Q^2-0.5 = Q^2+4
That is a contradiction.
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(ii)Sketch the graphs on the same axes.
graph%28400%2C400%2C-10%2C10%2C-10%2C10%2Cx%5E2-0.5%2Cx%5E2%2B4%29
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Cheers,
Stan H.
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