Answer to Question #168447 in Microeconomics for Nur

Question

Macguffing have a demand function of Qdx=70-p and a supply function of Qsx=2p+10 determine the quantity supplied is 0?

Answer 1

$Q_{dx}=Q_{sx}$$70-P=2P+10$

$70-10=3P$

$60=3P$

$P=60/3=20$

$Q_{sx}=2\times20+10=50$