Answer to Question #300263 in Microeconomics for sel

Question #300263

The demand and supply equations are Qd = 100 – 10P and Qs = 30 + 5P. Compute for the

Price equilibrium and quantity equilibrium.


1
Expert's answer
2022-02-20T16:19:26-0500

Qs=QdQ_s= Q_d

10010P=30+5P100-10P= 30+5P

15P=7015P= 70

P=4.67P= 4.67


Q=10010(7015)Q*= 100- 10(\frac{70}{15})

=(1500700)15=80015= \frac{(1500-700)}{15}= \frac {800}{15}

= 53.3353.33



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