Question

how to find market equilibrium with quadric equation

Answer 1

Step-by-step explanation:

Now back-substitute x = 600 into either the supply or demand function to find p,the equilibrium price. The equilibrium quantity is 600 and the equilibrium price is $5,800. To check graphically, we'll graph p = 7000 - 2x and p = 0.01x2 + 2x + 1000 and look for the intersection of the two graphs.

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Answer 2

Answer:

The quadratic formula, an example.

We want to find the equilibrium price and the corresponding demand. To find the intersection of the two curves set supply equal to demand and solve for p. Solve the equation by means of the quadratic formula where a = 231, b = -20, and c = -4.