Answer in Macroeconomics for tsion #206399

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 = $400-(20×14)=120$

Learn more about our help with Assignments: Macroeconomics

No comments. Be the first!