In this problem, p is in dollars and x is the number of units. The demand function for a certain product is p = 144 − x2 and the supply function is p = x2 + 2x + 120. Find the equilibrium point. (x, p) =
In this problem, p is in dollars and x is the number of units. The demand function for a certain product is p = 144 − x2 and the supply function is p = x2 + 2x + 120. Find the equilibrium point. (x, p) =
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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In this problem, p is in dollars and x is the number of units.
The demand function for a certain product is
p = 144 − x2
and the supply function is
p = x2 + 2x + 120.
Find the equilibrium point.
(x, p) =
Find the consumer's surplus there. (Round your answer to the nearest cent.)
$
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