The demand equation for a certain type of printer is given by:
D=-200p + 35,000
The supply equation is predicted to be:
s= -p^2 + 400p - 20,000
Find the equilibrium price
Do I solve for p first in the demand equation, and then input the answer into the supply equation? I did that and then would get:
s = -175^2 + 400(175) -20,000
Am I doing this right?
D=-200p + 35,000
The supply equation is predicted to be:
s= -p^2 + 400p - 20,000
Find the equilibrium price
Do I solve for p first in the demand equation, and then input the answer into the supply equation? I did that and then would get:
s = -175^2 + 400(175) -20,000
Am I doing this right?