Answer to Question #205938 in Accounting for jj mos

Question #205938

f the market for bread is described by the following equations Qd=210-0,6P and Qs=-96+1,1P what is the equilibrium price for bread?

Expert's answer

Equilibrium price;"Q_d=Q_s"

Equilibrium Price ;"210-0.6P=-96+1.1P"

"306=1.7P"

"P=180"

Equilibrium price(P) =180

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