Register
Given market demand Qd=50-p, and market supply p=Qs+5.Find the market equilibrium price and quantity ?​
396,884 views
13 votes
13 votes
Given market demand Qd=50-p, and market supply p=Qs+5.Find the market equilibrium price and quantity ?​

User Mbogh
by
2.8k points

1 Answer

11 votes
11 votes

Answer:

  • $27.5
  • 22.5 units

Step-by-step explanation:

We know that quantity supplied = quantity demanded.

p = Qs + 5 -> Qs = p - 5

Qd = 50 - p

Price:

p - 5 = 50 - p

p = 55 - p

2p = 55

p = $27.5

Quantity:

27.5 - 5 = 22.5 units

Best of Luck!

User Keval Gangani
by
3.5k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

Other Questions

If the rate of inflation in Japan dramatically increases while the rate of inflation in the United States remains constant, then a. the demand curve for dollars shifts to the left. b. the demand curve
Kylie is risk averse and has $1,000 with which to make a financial investment. She has three options. Option A is a risk-free government bond that pays 5 percent interest each year for two years. Option
From the standpoint of the issuing company, a disadvantage of using bonds as a means of long-term financing is that Group of answer choices bond interest is deductible for tax purposes. interest must be
Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow: (1) Work full time at a local accounting firm
In January of the current year, Dora made a gift of stock to her granddaughter. At the time of the gift, the stock was worth $15,000. Several months later in the same year after the gift, a $500 dividend
Link Copied!