Ask Question
31 October, 01:19

Photon Lighting Company determines that the supply and demand functions for its most popular lamp are as follows: S (p) = 400 - 4p + 0.00002p4 and D (p) = 2800 - 0.0012p3, where p is the price. Determine the price for which the supply equals the demand.

A) $93.24

B) $100.24

C) $96.24

D) $99.24

+4
Answers (1)
  1. 31 October, 02:16
    +1
    S (p) = 400 - 4p + 0.00002p^4

    D (p) = 2800 - 0.0012p^3

    S (p) = D (p)

    400 - 4p + 0.00002p^4 = 2800 - 0.0012p^3

    0.00002p^4 + 0.0012p^3 - 4p - 2400 = 0

    p = $96.24
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Photon Lighting Company determines that the supply and demand functions for its most popular lamp are as follows: S (p) = 400 - 4p + ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers