Answer to Question #201395 in Microeconomics for Motsatsi

Question #201395

If tge equation for a market demand curve is Qd=100-0,5P and the equation for a market supply curve is Qs=-20+P, the market equilibrium price is

Expert's answer

Equilibrium happens when supply and demand is equal;

"Qd=Qs"

"100-0.5P=-20+P"

"P=80"

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