Solve analytically and then check graphically.
Market Equilibrium Suppose that the demand for artificial Christmas trees is given by the function
p = 109.70 − 0.10q
and that the supply of these trees is given by
p = 0.01q2 + 5.91
where p is the price of a tree in dollars and q is the quantity of trees that are demanded/supplied in hundreds. Find the price that gives the market equilibrium price and the number of trees that will be sold/bought at this price.
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