Question

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?  

Answer 1

Equilibrium price;$Q_d=Q_s$

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

$306=1.7P$

$P=180$

Equilibrium price(P) =180