Question #333776

Given the demand for a product as Qd = 90 - 7P and the supply is given as Qs = -60 + 8P. You are told equilibrium is obtained at the point where Qd = Qs. The equilibrium price for the product is









1
Expert's answer
2022-04-26T14:54:42-0400

Qd=Qs,Q_d=Q_s,

150=15P,150=15P,

P=10,P=10,

Qd=Qs=20.Q_d=Q_s=20.


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