Solve the problem.
-The Cool Company determines that the supply function for its basic air conditioning unit is $S ( p ) = 10 + 0.002 p ^ { 3 }$ and that its demand function is $D ( p ) = 50 - 0.04 p ^ { 2 }$, where $p$ is the price. Determine the price for which the supply equals the demand.
A) $\$ 21.36$
B) $\$ 22.36$
C) $\$ 21.86$
D) $\$ 22.86$

Question

Quizplus · Accepted Answer

To find the equilibrium price where supply equals demand, set $S(p) = D(p)$: $10 + 0.002p^3 = 50 - 0.04p^2$. Solving this equation for $p$ gives $p \approx 21.86$.

Solve the Problem S(p)=10+0.002p3S ( p ) = 10 + 0.002 p ^ { 3 }S(p)=10+0.002p3

Solve the Problem $S ( p ) = 10 + 0.002 p ^ { 3 }$