If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price and quantity?
If Qs = -20 + 10p, and Qd = 400 - 20p, then in equilibrium Qd = Qs, so:
"-20 + 10p = 400 - 20p,"
30p = 420,
p = 14,
"Q = -20 + 10\u00d714 = 120" units.
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