Answer to Question #338153 in Microeconomics for Kiyu

Question

If the given market demand and supply function are given as qd = 80-3p and qs = 9p-4

Answer 1

$Q_d=80-3p,$

$Q_s=9p-4,$

$Q_d=Q_s,$

$80-3p=9p-4,$

$p=7,$

$Q_d=Q_s=59.$