If quantity demanded=100-6p ans qty supplied =25+2p find equilibrium price and qty
No links i have exams please..
Dear student
Equilibrium occure when quantity demand is equal to quantity supply
Quantity demand = quantity supply
100-6P = 25+2p
75 = 8p
P = 75/8
P = 9.375
Put price = 9.375 in quantity demand and qunatity supply equation
75 = 8p
P = 75/8
P = 9.375
Put price = 9.375 in quantity demand and qunatity supply equation
Quantity demand = 100-6(9.375)
= 100-56.25
= 43.75
Quantity supply = 25+2p
= 25+2(9.375)
= 25+18.75
= 43.75
Regards
= 100-56.25
= 43.75
Quantity supply = 25+2p
= 25+2(9.375)
= 25+18.75
= 43.75
Regards