Answer to Question #143197 in Macroeconomics for Qiniso

Question

Market for good X is characterized by these demand and supply schedule: p=a-bQd,
P=c-dQs ; a,b, c, and d are all positive constants

Answer 1

$Qd=\frac{a-P}{b}$

$Qs=\frac{c-P}{d}$

let's say

a=300, c=200, b=200, d=100

Qd=Qs

than

$\frac{300-P}{200}=\frac{200-P}{100}$

P=100

$Qd=\frac{300-P}{200}=\frac{300-100}{200}=1$

$Qs=\frac{200-P}{100}=\frac{200-100}{200}=1$