Solve the System Graphically $p = q ^ { 2 } + 3 q + 125$

question 75

Multiple Choice

Solve the system graphically.
-The supply function for a product is given by $p = q ^ { 2 } + 3 q + 125$ and the demand is given by $p = 555 - 30 q$ , where $\mathrm { p }$ is the price in dollars and $\mathrm { q }$ is the number of hundreds of units. Find the price that gives market equilibrium and the equilibrium quantity.

• A) $305; 1200 units
• B) $100; 555 units
• C) $255; 1000 units
• D) $10; 255 units

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Definitions:

Alfalfa

Alfalfa is a perennial flowering plant often used as forage for livestock due to its high nutrient content and adaptability to various climates.

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity more efficiently than another activity.

Import

The purchase of goods or services from foreign producers, bringing them into one's home country.

Export

The sale of goods or services produced in one country to another country, contributing to a nation's gross domestic product.