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:

Power of Acceptance

In contract law, the authority to accept an offer and create a binding legal agreement by expressing agreement to its terms.

Undue Excitement

Excessive enthusiasm or agitation that surpasses usual levels or expectations.

Effective Offer

A proposal made by one party to another intending to create a legal obligation upon acceptance.

Reasonably Definite Terms

A requirement in contract law that the terms of a contract must be clear enough for both parties to be able to understand their obligations and enforce the agreement.