Answer to Question #206518 in Microeconomics for Ede

Question #206518

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

Expert's answer

At the equilibrium:

"Q_s=Q_d \\\\\n\n-20+10p=400-20p \\\\\n\n30p=420 \\\\\n\np_{eq}=14 \\\\\n\nQ_{eq} = -20+ 10 \\times 14 = 120"

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