Answer to Question #206399 in Macroeconomics for tsion

Question #206399

If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price and quantity?

Expert's answer

Equilibrium Price ="Q_s=Q_d"

"-20 + 10p=400 - 20p"

"30p=420"

"p=14"

Equilibrium Price =14

Equilibrium Quantity ="400-(20\u00d714)=120"

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