The weekly demand and supply functions for a product given by p=−0.3x 2
+80 and p=0.5x 2
+0.3x+70 respectively, where p is the unit price in dollars and x is the quantity demanded in units of a hundred. (i) Determine the quantity supplied when the unit price is set at $100. [2 marks] (ii) Determine the equilibrium price and quantity. [2 marks]
