How do you calculate QD and Qs?
P = 10
- P = 10.
- Qd = Qs = 6P = 6(10) = 60 = Q*
- Demand and supply in a market are described by the equations.
- Qd = 120-8P.
- Qs = -6+4P.
- a. Solve algebraically to find equilibrium P and Q.
- P* = 10.
Related posts:
- What is the formula for supply and demand? - Using the equation for a straight line,... (Read more)
- What is the slope of demand? - ThoughtCo.com. Since slope is defined as the... (Read more)
- What is the slope in math? - The slope of a line is a... (Read more)
- What is the formula for the cross price elasticity of demand? - Cross elasticity (Exy) tells us the relationship... (Read more)