You are allowed to ask only one question at a time. I have
deleted your second set of equations and my response is for the first
set.
You have asked for the equilibrium quantity and price
but what the two variables x and y denote is not given.
I
can only determine the value of the two variables using the simultaneous
equations.
x^2 = 3y...(1)
5x +
3y - 10 = 0 ...(2)
Substitute 3y = x^2 in
(2)
=> x^2 + 5x - 10 =
0
x1 = [ -5 + sqrt (25 + 40)]/2 =
1.5311
=> x1 = -5/2 + sqrt 65 / 2 =
-6.5312
x2 = -5/2 - sqrt 65 /
2
y1 = 0.7814
y2 =
14.2185
From the values derived you can determine the price
and quantity that you require, though I do not think it would make any
sense.
The points of equilibrium are ( 1.5311
, 0.7814) and (-6.5312, 14.2185).
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