Question

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

Answer 1

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.