Answer to Question #205732 in Economics for Bonolo Pitsoe

Question #205732

If the market for bread is described by the following equations Qd=210-0,6P and Qs=-96+1,1P what is the equilibrium price for bread?

Expert's answer

"210-0.6p=-96+1.1p"

"1.1p+0.6p=210+96"

"1.7p=306"

"p=180"

Learn more about our help with Assignments: Economics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. This question is based on the following table.If the price of this good is R2,00, there would be a _
2. If the solubility of salt in water was determined to be .5 g/ml would a solution that had 50 g of sa
3. Explain FOUR (4) objectives of monetary policy in Zambia.
4. which firms does not earn normal profits in the long run?
5. Long-Run Aggregate Supply and Short- Run Aggregate Supply: Which Curve Shifts?In the real world, cha
6. For its more recent year a company had sales (all on credit) of Rs.830000 and cost of goods sold of
7. Which of the following statement(s) is/are INCORRECT concerning the GNI? [1] The GNI is equal to the