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Answer to Question #170292 in Microeconomics for Prudence

Question #170292

Qs=18000+0.2p

Qd=2400-0.1p


1
Expert's answer
2021-03-09T15:17:21-0500

Market equilibrium occurs when "Q_d=Q_s":


"24000-0.1P_E=18000+0.2P_E,""6000=0.3P_E,""P_E=\\$20000."

Finally, we can find the equilibrium quantity:


"Q_E=24000-0.1\\cdot\\$20000=22000."

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Comments

Assignment Expert
22.03.21, 02:09

Dear Jacque Henrico, please use panel for submitting new questions

Jacque Henrico
20.03.21, 13:02

Good day, Can you please advise on a GRAPH for EQUILIBRIUM quantity calculation of Qs=18000+0.2P & QUANTITY DEMANDED Calcultuon Qd=2400-0.1P

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