Question: (Use the quadratic formula to try to solve these problems.)
1. Solve for x if 0 = x2 + 2.5x - 125.
2. A firm faces the demand schedule q = 400 - 2p - p2. What price does it need to charge to sell 100 units?
3. If a firm's demand function is p = 100 - q, what quantities need to be sold to bring in a total revenue of
(a) £100
(b) £1,000
(c) £10,000? (Give answers to 2 decimal places, where they exist.)
4. Make up your own quadratic equation and then find whether a solution exists.