Problema Solution
The supply function for a certain thing is q^2 + 40 q and the demand function is -3 q^2 + 20 q + 7200.
Find equlibrium price.
Answer provided by our tutors
equilbrium price will be when
q^2 + 40 q= -3 q^2 + 20 q + 7200.
=>4q^2+20q -7200=0
=>q^2 +5q-1800=0
=>q^2 +45q -40q -1800=0
=>(q+45)*(q-40)=0
=>q=40