Question 608338: the supply and demand equation for a certain product are s=2,500p-14,5000 and d=3,000/p, where p is the price in dollar . find the price supply equals demand,
I have set the equation as following 2,500p -14,5000=3000/p
I multiplied the inverse of 3000p in both sides the result is 2500p^2-14500p=0 so what I should do next to get 6$ as final answer? thanks
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! the supply and demand equation for a certain product are s=2,500p-14,500 and d=3,000/p, where p is the price in dollar . find the price supply equals demand,
I have set the equation as following 2,500p -14,500 = 3000/p
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Multiply thru by "p" to get:
2500p^2 - 14,500p = 3000
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2500p^2 - 14,500p -3000 = 0
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Divide thru by 500 to get:
5p^2 - 29p - 6 = 0
Factor:
5p^2 -30p + p - 6 = 0
5p(p-6)+ (p-6) = 0
(p-6)(5p+1) = 0
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Positive solution:
p = $6
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Cheers,
Stan H.
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