Question

(Plz, im desperate!)A certain bakery has found that the daily demand for bran muffins is 7700/p, where p is the price of a muffin in cents. The daily supply is 3p-100. Find the price at which supply and demand are equal.

Answer 1

P = 70 cents per muffin

Explanation:

It says to find the price when the supply and demand are equal, so you have to set the two equations equal to each other.

7700/p = 3p-100.

It seems to me that the best way to solve this would be to set up a quadratic equation.

If you multiply both sides by p and then subtract 7700, you get the following:

0=3p^2 -100p -7700

I wrote a program to solve this, and I got the answers p= 70 and -36.67.

Obviously, a negative number doesn’t work in this situation, so the answer is 70 cents per muffin. To check this, you can plug it back into the equation:

7700/70=3(70)-100

110=110