Supply, Demand, & Market Equilibrium

[tfs985]

I am taking business math (MAT 140) after 5 years in the military and am struggling with the chapter regarding quadratic functions & factoring in regards to supply, demand, and market equilibrium. Could somebody answer this question and provide the logic behind this question:

If the supply and demand functions for a commodity are given by: P - Q = 10 and (P + 2)Q = 2100, respectively, find the price that will result in market equilibrium.


Thanks in advance!

 

[tkhunny]

Solve each for the same variable.

P - Q = 10
P = 10+Q

(P + 2)Q = 2
P+2 = 2/Q
P = (2/Q) - 2

Both expressions equa "P", so they must be equal themselves.

10 + Q = (2/Q) - 2

Now what?