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Answer to Question #228897 in Microeconomics for Lethiwe
Question #228897
Qd= Qs given the following equations: 400 - 2P + 4j = - 100 + 3P and 400+400+100 = 3P+2P calculate price and quantity
Expert's answer
"400-2p+4j=-100\\\\400+4j+100=2p\\\\p=200+2j+50"
"400+400+100=3p+2p\\\\900=5p\\\\p=180"
"200+2j+50=180\\\\250+25=180\\\\2j=180-250\\\\2j=70\\\\j=35"
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