In October 2024
Answer to Question #170358 in Microeconomics for Tayyaba
The supply curve for sugar is given as Supply: Qs = 1750 + 24P and demand for sugar is given as Demand: Ds = 3270 – 26P; where P is price in SR per kg. What will be the equilibrium price and equilibrium quantity in the free market?
Market equilibrium occurs when "Q_d=Q_s":
Finally, we can find the equilibrium quantity:
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#339914 on Dec 2023
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Dear Tayyaba, please use panel for submitting new questions
Explain the following cases through graph. Does a change in consumers’ preferences lead to a movement along the demand curve or a shift in the demand curve?
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