The demand equation for a certain type of printer is given by
D = -200p + 35000
The supply equation is predicted to be
S = -p to the second power + 400p - 8000
Find the equilibrium price
2007-09-04 07:01:57 · 5 answers · asked by Lindsey F 1 in Science & Mathematics ➔ Mathematics
Equilibrium price is when D = S
-200p + 35000 = -p*p + 400p -8000
p*p -600p + 43000 = 0
solve using the quadratic formula
2007-09-04 07:12:13 · answer #1 · answered by Beardo 7 · 0⤊ 1⤋
The equilibrium price occurs when S=D.
-200p +35000 = -p^2 +400p -8000.
2007-09-04 14:22:42 · answer #2 · answered by davidosterberg1 6 · 0⤊ 1⤋
set supply = deamnd and solve
-200p+35000 = -p^2 +400p -8000
2007-09-04 14:07:44 · answer #3 · answered by Paul T 2 · 0⤊ 1⤋
I think they're asking for the price when the supply meets the demand. So set the two expressions equal to each other and solve for p.
2007-09-04 14:08:07 · answer #4 · answered by Anonymous · 0⤊ 1⤋
5p
2007-09-04 15:38:46 · answer #5 · answered by Bob the Boat 6 · 0⤊ 1⤋