Asked by Jusmudi
Consider the following demand and supply equations for Chocolates:
Qd=140-P and Qs= -120+P.
Using the equations above, and find the equilibrium price.
Qd=140-P and Qs= -120+P.
Using the equations above, and find the equilibrium price.
Answers
Answered by
oobleck
demand = supply, so
140-P = -120+P
P=130
140-P = -120+P
P=130
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