AppaloosaCake wrote:QUESTION: TYPE:(College Math)
In the pair of supply and demand equations below, x represents the quantity demanded in units of a thousand and p the unit price in dollars, find the equilibrium quantity and the equilibrium price.
p = 128 − 4x2 and p = x2 + 5x + 28
equilibrium quantity ___________ thousand units
equilibrium price ___________dollars
I've never taken an econ class, but every source I read said you needed a quantity demanded and a quantity supplied to solve a problem like this.
Written source: http://www.uwyo.edu/rgodby/econ1010/algebrai.htm
YT video, if video is better for you: https://www.youtube.com/watch?v=vPRqJwjG8-Y
Which I'm not sure is in your problem? Maybe the sources will help you, but otherwise I suggest going to your professor or TA's office hours or emailing them for help! Or maybe someone more helpful will post here. xP