Answer to Question #242545 in Microeconomics for CANDY QUEEN

Question #242545

if Qs = 500+50P and Qd = 125-25p find Q^* and P^*

Expert's answer

At equilibrium

"Q_s=Q_d \\\\\n\n500+50P=125-25P \\\\\n\n375= -75P \\\\\n\nP^*=\\frac{375}{-75} =-5 \\\\\n\nQ^* = 500 + 50 \\times (-5) = 250"

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