Question #206518

If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price and quantity?


1
Expert's answer
2021-06-13T17:39:01-0400

At the equilibrium:

Qs=Qd−20+10p=400−20p30p=420peq=14Qeq=−20+10×14=120Q_s=Q_d \\ -20+10p=400-20p \\ 30p=420 \\ p_{eq}=14 \\ Q_{eq} = -20+ 10 \times 14 = 120


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Hong Kong #333484 on Dec 2022