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April 20, 2014

Homework Help: Supply and Demand

Posted by Steff on Monday, June 6, 2011 at 9:30pm.

50) the monthly demand and supply functions for the Luminar desk lamp are given by

p=d(x)= -1.1x^2 + 1.5x + 40
p= s(x)= 0.1x^2 + 0.5x + 15

respectively, where p is measured in dollars and x in units of a thousand. Find the equilibrium quantity and price.

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