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Answer to Question #316379 in Macroeconomics for Ayeyi

Question #316379

Find an expression for the equilibrium quantities X and Y

1
Expert's answer
2022-03-23T14:01:57-0400



Equilibrium quantities for X and Y will be


Qd = x + yP

Where:

  • Qd = the quantity of demand
  • X = quantity
  • P = price



Qs = x + yP

Where:

  • Qs = the quantity supplied
  • X = quantity
  • P = price

Therefore, the equilibrium price sets the two equal to each other:

Qs = Qd



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