Final answer:
The student is asked to find the equilibrium price and quantity of pastries. This involves equating the demand function with the supply function and solving for the price (P) and quantity (Q), which can be achieved through algebra or graphing.
Step-by-step explanation:
The student's question involves finding the equilibrium price and quantity of pastries in a small town market. This falls under the subject of Economics. To find this equilibrium, we look for the point where the quantity demanded (Qd) equals the quantity supplied (Qs). The demand for pastries is described by the equation P = 30 - 2Q, where P is the price and Q is the quantity.
To solve for the equilibrium, we need the supply function, which is not provided directly in the question. Typically, the supply function would have a positive relationship with price, similar to Qs = 2 + 5P given in the example for pizzas. If we assume a similar supply function for the pastries, we would set Qd equal to Qs and solve for P and Q. This calculation involves algebraic manipulation or could be visually represented on a graph as the intersection point of the supply and demand curves. The supply curve represents the minimum price at which a firm is willing to produce a certain quantity, taking into account costs and desired profit.