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Supply equation: Q = -4 + P and a demand equation of Q = 16 – P. What is the equilibrium price?​

User Long Pham
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1 Answer

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Answer:

Q = -4 + P

Q = 16 – P

Then:

-4 + P = 16 – P

-4-16=-P-P

-20=-2P

-20/-2=P

10=P

The equilibrium price is 10 if you replace 10 in both equation you would obtain a demand and supply equal to 6.

User BaptWaels
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