Answer to Question #240876 in Macroeconomics for rap

Question

Write the solution in your copy book, then take a picture of the solution, put it into document in doc or pdf and attach file. 1.The demand for some goods is set by formula Qd = 200-10Р, the supply is presented by the formula Qs = 60+15P 1) Compute the equilibrium price and quantity of goods at this market; 2) If a market price is fixed as Р = 10rub., calculate the demand and supply amount. 

Answer 1

a)

$Qd=Qs\\200-10p=60+15p\\200-60=15p+10p\\140=25p\\p=5.6\\Q=60+15(5.6)\\Q=144$

b)

$p=10\\Qd=200-10(10)\\=200-100\\=100\\Qs=60+15(10)\\=60+150\\=210$