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Solve the System Graphically p=q2+3q+125p = q ^ { 2 } + 3 q + 125

Question 75

Multiple Choice

Solve the system graphically.
-The supply function for a product is given by p=q2+3q+125p = q ^ { 2 } + 3 q + 125 and the demand is given by p=55530qp = 555 - 30 q , where p\mathrm { p } is the price in dollars and q\mathrm { q } is the number of hundreds of units. Find the price that gives market equilibrium and the equilibrium quantity.


A) $305; 1200 units
B) $100; 555 units
C) $255; 1000 units
D) $10; 255 units

Correct Answer:

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