Equilibrium is point where supply = demand
Solve with substitution.
From supply equation ---> q = 2p - 63
Sub into demand equation ---> (p+30)(2p-63+25) = 2584
Solve for p:
2p^2 +22p - 1140 = 2584
p^2 + 11p -1862 = 0
(p+49)(p-38) = 0
p = 38
Sub back into supply equation to find q
q = 2(38) - 63
q = 13
Answer: Equilibrium is 13 units sold at price of $38.
I believe that's correct.
Answer:
P(x) = 15x^2 + 2x + 4
Step-by-step explanation:
To simplify:
combine like terms
8x^2 + 7x^2 = 15x^2
There are no other like terms.
This equation cannot be simplified any further with the given information.
P(x) = 15x^2 + 2x + 4
