Question 57322: Please help again. Much appreciated.
The demand equation for a certain type of printer is given by
D=200p+35,000
The supply is predicted to be:
S=p^2+400p-20,000
Find the equilibrium price. Here is what I did. I dont know how to find the price.
p^2+400p-20,000=-200p+3500
O=p^2-600p+23,500
p=600psqrt(-600)^2-4(23,500)/2
p=600+/-sqrt266,000/2
Is the price 42.12????
Hellllpppp!
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Find the equilibrium price. Here is what I did. I dont know how to find the price.
p^2+400p-20,000=-200p+3500
p^2+600p-23500=0
p=[-600+-sqrt(600^2-4(-23500)]/2
p=[-600+-sqrt(454000)]/2
p=[-600+-673.80]/2
p=[73.80]/2
p=$36.90 (price)
Cheers,
Stan H.
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