this simalar to the other problem and i set the 2 equations S(p)=200-p+0.000007p^4 and and D(p)=1500-0.0004p^3 equal to each other and i smade it equal zero so it was 0.000007p^4+0.0004p^3-p-1300 it that right? because i graohed it and the answer is insanly hugmungo
another question
- Thread starter kaebun
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Double Check Your Work.
Hello kaebun:
You've got the correct equation, but your solution is wrong.
You should get both a positive and a negative value for p. (The negative value is thrown out because the price cannot be less than zero.)
I get $106.99 for the equilibrium price.
Let us know if you can't find your error.
~ Mark
Hello kaebun:
You've got the correct equation, but your solution is wrong.
You should get both a positive and a negative value for p. (The negative value is thrown out because the price cannot be less than zero.)
I get $106.99 for the equilibrium price.
Let us know if you can't find your error.
~ Mark