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Suppose the market demand and supply are given by Qs = -50 + 3P and Qd = 300 - 4P. What is the equilibrium price?
? is the answer 50
9 years ago

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Answered by John
Set the two equations = to each other since this is equilibrium. Solve for P.

Your answer is correct.
9 years ago
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Suppose the market demand and supply are given by Qs = -50 + 3P and Qd = 300 - 4P. What is the equilibrium price?
? is the answer 50

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