Answer to Question #324375 in Microeconomics for Tso

Question

Qd=100-5p and Qs= -20+3p if the price is R10

Answer 1

$Q_d=100-5p,$

$Q_s=-20+3p,$

$Q_d=Q_s,$

$100-5p=-20+3p,$

$120=8p,$

$p=15,$

$Q_d=Q_s=25.$