SOLUTION: The demand and supply equations for a certain item are given by: D=-5p+40 S=-p^2+30p-8 Find the equilibrium price.

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Question 83042: The demand and supply equations for a certain item are given by:
D=-5p+40
S=-p^2+30p-8
Find the equilibrium price.
Answer by Nate(3500) About Me  (Show Source):
You can put this solution on YOUR website!
When you can supply the demand, you have reached an equil amount.
D = S
-5p + 40 = -p^2 + 30p - 8
p^2 - 35p + 48 = 0
Solve as you would like from here:
p^2 - 35p = -48
(p - 17.5)^2 = 258.25
p = 17.5 +- sqrt(258.25)
when p is about 33.6 or 1.4