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 88161: 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 rapaljer(4671) About Me  (Show Source):
You can put this solution on YOUR website!
The equilibrium price is where supply = demand.

D=-5p+40
S=-p^2+30p-8

-5p%2B40=-p%5E2%2B30p-8
p%5E2-30p%2B8-5p%2B40=0
p%5E2-35p%2B48=0

Use either the quadratic formula or a graphing calculator:
p=1.43 or p = 33.57

R^2