Answer to Question #331860 in Microeconomics for Lupin

Question #331860

The market demand and supply schedule for commodity X is as follows:

Qd=2000 -60 P and Qs=400 + 40P

What is the equilibrium price (RS) and quantity (Units) demanded for on the Market. Use a Diagram.

Expert's answer

"Q_d=Q_s,"

"1600=100P,"

"P=16,"

"Q_d=Q_s=1040."

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