The supply function for a product is given by p=q² + 10q+ 166 and the demand function for this product is p=850 - 10q, where p is the price in dollars and q is the number of hundreds of units. Find the price that gives market equilibrium and the equilibrium quantity. What is the equilibrium price? $

Trigonometry (MindTap Course List)
10th Edition
ISBN:9781337278461
Author:Ron Larson
Publisher:Ron Larson
Chapter4: Complex Numbers
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The supply function for a product is given by p=q² + 10q+ 166 and the demand function for this product is
p=850 - 10q, where p is the price in dollars and q is the number of hundreds of units. Find the price that gives market
equilibrium and the equilibrium quantity.
What is the equilibrium price?
$
Transcribed Image Text:The supply function for a product is given by p=q² + 10q+ 166 and the demand function for this product is p=850 - 10q, where p is the price in dollars and q is the number of hundreds of units. Find the price that gives market equilibrium and the equilibrium quantity. What is the equilibrium price? $
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