Asked by Mike
                If the supply function for a company is p = q^2 + 8q +16 and the demand function is p = -3q^2 + 6q + 36. Find the equilibrium quantity and equilibrium price.
            
            
        Answers
                    Answered by
            Damon
            
    p = p so
q^2 + 8 q + 16 = -3q^2 + 6q + 36
4 q^2 + 2 q - 20 = 0
2 q^2 + q - 10 = 0
(2 q + 5 ) (q - 2) = 0
so q = 2 is the positive root
now go back and find p
    
q^2 + 8 q + 16 = -3q^2 + 6q + 36
4 q^2 + 2 q - 20 = 0
2 q^2 + q - 10 = 0
(2 q + 5 ) (q - 2) = 0
so q = 2 is the positive root
now go back and find p
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