Suppose market demand and market supply are represented by


Suppose market demand and market supply are represented by the following equation ,respectively

Qd = 350-100P

Qs= - 50+ 100P

Calculate equilibrium price & equilibrium quantity and show the result graphically.

Ans:-Equilibrium price=2

Equilibrium Quantity =150

Solution Preview :

Prepared by a verified Expert
Business Economics: Suppose market demand and market supply are represented by
Reference No:- TGS02509564

Now Priced at $10 (50% Discount)

Recommended (92%)

Rated (4.4/5)