Answer to Question #298154 in Economics of Enterprise for Ratry

Question

Y=5-2x and Y= 2+3x in the same graph Identify the equilibrium value for x and y

Answer 1

Put $Y=Y$

$5-2x=2+3x$

$5x=3$

$x=3/5=0.6$

$Y=5-2x=5-2\times 3/5=5-6/5= 19/5=3.8$