Answer to Question #324375 in Microeconomics for Tso

Question #324375

Qd=100-5p and Qs= -20+3p if the price is R10

Expert's answer

"Q_d=100-5p,"

"Q_s=-20+3p,"

"Q_d=Q_s,"

"100-5p=-20+3p,"

"120=8p,"

"p=15,"

"Q_d=Q_s=25."

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Suppose that the price elasticity of demand for maple syrup has been estimated at -4. If quantitydem
2. 1. Assess the following functions:1. 𝑓 ′(𝑥) = 𝑥 2 + 6𝑥 + 22. 𝑓 ′(𝑥) = 10𝑥 �
3. A Firm has the following production function 𝑸 = 𝟐𝟎𝑳 − 𝟎. 𝟒𝑳 𝟐.a.Using dif
4. There is no difference between the marginal rate of substitution and the marginal rate of transforma
5. Use appropriate examples to discuss three critical assumptions about the properties of consumers’p
6. Use well labeled diagrams to discuss the relationship between the price elasticity of demand and tot
7. Suppose that the price elasticity of demand for maple syrup has been estimated at -4. If quantitydem