For a pair of supply and demand equations p=-4x2+1...

Answers ( 1 )

  1. tamara webb
    tamara webb
    Question:
    For a pair of supply and demandequations
    p=-4x2+145 andp=16x+40
    where x represents the quantitydemanded in nis of a 1000 and p is unit n dollars., findequilibrium quantity and price.
    AT EQUILIBRIUMSTATE,SUPPLY=DEMAND...HENCE
    -4X^2+145=16X+40
    4X^2+16X-105=0
    4X^2+30X-14X-105=0
    2X(X+15)-7(2X+15)=0
    (X+15)(2X-7)=0
    2X-7=0
    X=3.5
    HENCE EQUILIBRIUM DEMAND 3.5*1000=3500 UNITS
    EQUILIBRIUM PRICE IS
    P=16*3.5+40=56+40=96 $
    E Q=3500
    E P=96 $
    Oonfused

Leave a reply