X 3.4.40-BE Quest
Suppose the supply for a certain textbook is given by P
Find the equilibrium quantity and the equilibrium price.
and demand is given by p= - +10, where p is the price and q is the quantity. The graph of these equations is shown to the right.

(d) is correct

Equilibrium quantity is 4.5

Equilibrium price is 5

Step-by-step explanation:

Given

-- supply

-- demand

Required

Find the equilibrium price

Equilibrium price is when:

This means that (d) is correct

So, we have:

Collect Like Terms

Multiply both sides by 2

Take the square root of both sides

-- approximated

The equilibrium price is:

Substitute value for q^2

center= (-2,0)

radius= sqrt2/2

step-by-step explanation: