SOLUTION: Business and finance. 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^+400p-20,000 Find the equil

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Question 117874: Business and finance. 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^+400p-20,000

Find the equilibrium price.

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
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^+400p-20,000
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D = S
-200p+35000 = -p^2+400p-20000
p^2-600p+55000 = 0
p = [600 +- sqrt(600^2-4*55000)]/2
p = [600 +- 374.1657]/2
p = 974.1657/2 or x = 225.8343/2
p = 487.08 or p = 112.92
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Cheers,
Stan H.