Hello I was wondering if you could help me out with a few ho

Hello! I was wondering if you could help me out with a few homework problems! I am in a Business Math Course. Here is a problem.

Suppose supply and demand for a certain video tape are given by
supply: p= 1/3q^2 and demand: p=-1/3q^2+32

What is the equilibrium demand?

a) about 6
b) about 9
c) about 8
d) about 7

Solution

p=q

-1/3q^2+32 = 1/3q^2

2/3q^2 = 32

q =sqrt(1/48) = .14434

So, Equilibrium demand = 1/3q^2 = 16

C is the right answer

Hello! I was wondering if you could help me out with a few homework problems! I am in a Business Math Course. Here is a problem. Suppose supply and demand for a

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