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."

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