Question
Where $x$ represents the quantity demanded in units of a thousand and $p$ the unit price in dollars, find the equilibrium quantity and the equilibrium price. $$p=-2 x^{2}-80 \text { and } p=15 x+30$$
Step 1
This is because at equilibrium, the quantity demanded equals the quantity supplied. So we have: $$-2x^{2}-80 = 15x+30$$ Show more…
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