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July 25, 2014

Homework Help: Calculus/Algebra

Posted by Sam on Monday, January 28, 2013 at 8:21am.

Let the demand and supply functions be represented by p=D(q) and p=S(q), respectively, where p is the price per item in dollars and q is the quantity of items. D(q) = 42-.03q S(q) = .02q -20

Find the equilibrium price. Hint: you will first find the equilibrium quantity (q) and once you know this you can find the equilibrium price (p)

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