mathdefective mathdefective
  • 11-01-2018
  • Mathematics
contestada

Supply function: 2p-q-63 and the demand function: (p+30)(q+25)=2584. What is the market equilibrium point?

Respuesta :

wizard123
wizard123 wizard123
  • 11-01-2018
Equilibrium is point where supply = demand

Solve with substitution.

From supply equation ---> q = 2p - 63

Sub into demand equation ---> (p+30)(2p-63+25) = 2584

Solve for p:
2p^2 +22p - 1140 = 2584
p^2 + 11p -1862 = 0
(p+49)(p-38) = 0
p = 38

Sub back into supply equation to find q
q = 2(38) - 63
q = 13

Answer: Equilibrium is 13 units sold at price of $38.
Answer Link

Otras preguntas

One leg of a right triangle is twice as long as the other. write the length of the hypotenuse
What effect did the attacks have on the Pearl Harbor military base? (explain in your own words plz)
4/5 gallons of water split into 4 bottles?
Gold examiner receives $147,000 from a local bank and promises to deliver 100 units of certified 1-oz. gold bars on a future date. the contract states that owne
2x+7=27 and 3x+1=28 does 2x+7= 3x+1
Https://answera 44-kg woman cheats on her diet and eats a 695-calorie (695 kcal) jelly doughnut for breakfast. (a) how many joules of energy are the equivalent
I don’t understand how to factor fractions :( can someone help me with this problem
Please I need help. Thank you
4bags of cement do 18squared , how many squared can be done with 7bags
Why is the sculpture in this picture considered a piece of art? Use keywords and art terms from the lesson to answer the question