If the demand function for a commodity is given by the equation p2 + 4q = 1400 and the supply function is given by the equation 300 − p2 + 14q = 0, find the equilibrium quantity and equilibrium price. (Round your answers to two decimal places.) equilibrium quantity = equilibrium price $

If the demand function for a commodity is given by the equation p2 + 4q = 1400 and the supply function is given by the equation 300 − p2 + 14q = 0, find the equilibrium quantity and equilibrium price. (Round your answers to two decimal places.) equilibrium quantity = equilibrium price $

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter4: Systems Of Linear Equations

Section4.3: Solve Mixture Applications With Systems Of Equations

Problem 4.60TI: The manufacturer of a weight training bench spends $120 to build each bench and sells them for $170....

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Differential Equations

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Question

If the demand function for a commodity is given by the equation p² + 4q = 1400 and the supply function is given by the equation 300 − p² + 14q = 0, find the equilibrium quantity and equilibrium price. (Round your answers to two decimal places.)

equilibrium quantity =

equilibrium price $

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