Answer to Question #151009 in Microeconomics for Wajeeha khan

Question

A firm faces the demand schedule q = 400 − 2p − p2. What price does it need
to charge to sell 100 units?

Answer 1

$q = 100 \\ 100 = 400-2p-p^2 \\ 0 = 300-2p-p^2 -p^2-2p+300 = 0 \\ p_{1,2}=\frac{-(-2)±\sqrt{(-2)^2-4(-1) \times 300}}{2(-1)} \\ p_{1,2}= \frac{-(-2)± 2 \sqrt{301}}{2(-1)} \\ p_1 = -1 - \sqrt{301} = -18.35 \\ p_2 = \sqrt{301}-1= 16.35$

Answer: p = 16.35