Answer to Question #333757 in Macroeconomics for sezz

Question #333757

d = 26 - 8P and the supply is given as Qs = -16 + 6P. You are told equilibrium is obtained at the point where Qd = Qs. The equilibrium quantity for the product is

Expert's answer

"Q_d=26-8P,"

"Q_s=-16+6P,"

"Q_d=Q_s,"

"P=3,"

"Q_d=Q_s=2."

Learn more about our help with Assignments: Macroeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Qd(=50-8P) and Qs(=17.5+10P)
2. • Discuss about the importance of economic growth to a country, make reference to other studies/li
3. The economy of Beta is in a recession.(a) Draw a single correctly labeled graph with both the short-
4. b. Find the equilibrium level of income whenCo = 85, b = 0.75, Io = 30, t = 0.2, and T = 20
5. Explain what the IS curve represents
6. a. Given the following simultaneous equations:y=2x2+3x+2And y=x2 +2x+8 Solve for x and y.
7. For this question, refer to the Bank of Ghana’s Monetary Policy Committee PressRelease of November