Answer to Question #202328 in Economics for taryn

Question #202328

Given the demand for a product as Qd = 50 - 8P and the supply is given as Qs = -17,5 + 10P. You are told equilibrium is obtained at the point where Qd = Qs. The equilibrium quantity for the product is

Expert's answer

"50-8p=-17.5+10p"

"p=3.75"

Q=20

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