Question #154689

3. Find out the Price, Quantity, Quantity Supply, Quantity Demand, Quantity Supply and equilibrium point. Further with the help of values construct the graph.

• The demand function,

Qd = 286 - 20p.

• The supply function,

Qs = 88 + 40p.


1
Expert's answer
2021-01-11T12:00:24-0500

Equilibrium:

Qd=QsQd=Qs

28620p=88+40p286-20p=88+40p

p=3.3p=3.3

Q=220Q=220


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!
LATEST TUTORIALS
APPROVED BY CLIENTS