Photon Lighting Company determines that the supply and demand functions for its most popular lamp are as follows: S(p) = 400 - 4
p + 0.00002p4 and D(p) = 2800 - 0.0012p3, where p is the price. Determine the price for which the supply equals the demand.
1 answer:
At equilibruim 400 - 4p + 0.00002p^4 = 2800 - 0.0012p^3
0.00002p^4 + 0.0012p^3 - 4p - 2400 = 0
The require price is 96.24
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Answer:
y = 32
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sqrt(2y) +3 = 11
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sqrt(2y) +3-3 = 11-3
sqrt(2y) = 8
Square each side
(sqrt(2y))^2 = 8^2
2y = 64
Divide by 2
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y= - 1/4x - 3
Step-by-step explanation:
