Question

If the demand function for a commodity is given by equation p^2+12q=18 and the supply function is given by the equation 700-p^2+6q=0, find the equilibrium quantity and price

Jun 15, 2015

Hmm. I get a negative value for q.
Is there maybe a typo?

Jun 15, 2015

Related Questions

#the demand function of 3 commodity: A, B and C are given as: DA=20-3PA+PB+PC, DB=30+PA+5PB , DC=15... Assume in a market individual supply function of a commodity A is given by SA=4PA-6 and individu... Recall that in business, a demand function expresses the quantity of a commodity demanded as a func...