The demand equation for a certian type of printer is given by
D = -200p + 35,000
The supply equation is predicted to be
S = -p^2 + 400p - 20,000
I need to find the equilibrium price ?????
2007-02-01 07:07:24 · 3 answers · asked by CookFrNW 3 in Science & Mathematics ➔ Mathematics
Set D=S and solve for p.
-200p + 35000 = -p^2 + 400p - 20000
p^2 - 600 p + 55000 = 0
(use quadratic equation to solve for p)
p = 112.92 or 487.09
(edited: typo in original)
2007-02-01 07:20:29 · answer #1 · answered by Mathematica 7 · 0⤊ 0⤋
at equilibrium D=S
equating
-p^2+400p-20000=-200p+35000
=>p^2-600p+55000=0
=487
2007-02-01 07:19:08 · answer #2 · answered by raj 7 · 0⤊ 0⤋
that's what i think:
-200p + 35,000 = P^2 + 400p - 20,000
55,000 = p^2 + 600p
55,000 = p(p + 600)
55,000/(p+600) = p
anyway p is going to be 80.79...something
2007-02-01 07:18:49 · answer #3 · answered by Anonymous · 0⤊ 1⤋