00:01
So for this problem, we have our supply and demand function.
00:03
First thing we want to do is choose the correct graph.
00:06
So we see that one of them is going to have the point zero -zero, another one is going to have the point one's going to have the point one -zero -eight -eight.
00:17
So if we look at a, b, c, and d, they all have the point zero -zero except for b, and then they all have the point that's slightly above 1 ,000 except for d.
00:29
So it has to be a or c.
00:31
And then what we know is that if q is not equal to zero, q is this function is going to give us, if the solid line is s, we want to make sure that that one is the one that hits the origin.
00:57
So that's going to be a is our answer.
00:59
So a and c are identical, but we see that a needs to have the solid line as the one that's at zero, zero.
01:05
So the equilibrium point is going to be the point, at which these two functions are equal to each other.
01:10
So since we have q squared plus 15q, we want to set that equal to 1 ,088 minus 15q minus q squared.
01:24
So let's set those equal to each other and see which one is our equilibrium point.
01:31
We can expect to have two intersection points, but we know that the equilibrium point is going to be the one that's positive, since we can't have a negative quantity...