Solved

Photon Lighting Company Determines That the Supply and Demand Functions S(p)=3003p+0.000015p4 and D(p)=21000.0009p3S ( p ) = 300 - 3 p + 0.000015 p ^ { 4 } \text { and } D ( p ) = 2100 - 0.0009 p ^ { 3 }

Question 101

Multiple Choice

Photon Lighting Company determines that the supply and demand functions for its most popular lamp are as follows: S(p) =3003p+0.000015p4 and D(p) =21000.0009p3S ( p ) = 300 - 3 p + 0.000015 p ^ { 4 } \text { and } D ( p ) = 2100 - 0.0009 p ^ { 3 } , where p is the price. Determine the price for which The supply equals the demand.


A) $99.24
B) $100.24
C) $96.24
D) $93.24

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions