Question

Help... 3:
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.

Answer 1

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

Answer 2

Setting up the problem is pretty strightforward. Solving it requires some technology. What technology are you allowed to use?

Answer 3

Any.. But I left my calculator at home.. (I'm at church!)

Answer 4

You can always use http://www.wolframalpha.com/ it's very helpful for math questions.

Answer 5

Put this in wolframalpha.com and you will see the answer:
solve 400 - 4p + 0.00002p^4 = 2800 - 0.0012p^3 for p

Answer 6

Haha yeah that's pretty much what i ment, @BangkokGarrett is right.

Answer 7

There are multiple solutions, but only one makes sense in the context of this problem.

Answer 8

Lol....almost at the same time @Light&Happiness

Answer 9

I have that on my desktop. :3 It gave me four different ones..

Answer 10

The only one that matches is 96. :p

Answer 11

2 imaginary answers : forget those
1 negative: forget it
1 positive: 96.24 .....yep! that one

Answer 12

Yeah. go with the positive!

Answer 13

Yay. I will take time later to figure out how it got that.. But I have to go.. :C

Answer 14

That would be pretty nasty to solve any other way. I'm not even sure a calculator could solve that 4th degree equation. On a calculator you may have to graph them and see where they intersect graphically