If the demand function for a commodity is given by the equation p2 + 4q = 1400 and the supply function is given by the equation 700 − p2 + 2q = 0, find the equilibrium quantity and equilibrium price. (Round your answers to two decimal places.)
If the demand function for a commodity is given by the equation p2 + 4q = 1400 and the supply function is given by the equation 700 − p2 + 2q = 0, find the equilibrium quantity and equilibrium price. (Round your answers to two decimal places.)
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 5ECP
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If the demand function for a commodity is given by the equation p2 + 4q = 1400 and the supply function is given by the equation 700 − p2 + 2q = 0, find the equilibrium quantity and equilibrium price. (Round your answers to two decimal places.)
equilibrium quantity | ||
equilibrium price | $ |
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