What are the quantity and equilibrium price


Suppose the demand function for scooters is given by the QD = 20,000 - 10P + 0.2I, where P = price of a scooter, and I = average income of consumers. Also, assume the supply function of scooters is given by QS = 20 P. If the average income of consumers is $20,000 and the market for scooters is perfectly competitive, what are the quantity and equilibrium price in this market?

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Macroeconomics: What are the quantity and equilibrium price
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