Answer:
q = 20
Step-by-step explanation:
To find the equilibrium quantity, set the supply and demand functions equal to each other and solve for q:
320 - 0.3q^2 = 0.5q^2
Add 0.3q^2 to both sides, obtaining 320 = 0.8q^2. Next, solve for q by dividing both sides by 0.8: q^2 = 400. Then q = +√400, or q = 20.
