Answer to Question #128015 in Microeconomics for diana

Question

demand: Q=25-0.5P supply: Q=10+P find the equillibrium price and quantity

Answer 1

$$Q_D=25-0.5p$$

$$Q_S=10+p$$

$$Q_D=Q_S$$

$$25-0.5p=10+p$$

$$1.5p=15$$

$$p=10$$

$$Q=20$$