Answer to Question #339542 in Microeconomics for Bryt

Question #339542

determine the equilibrium price and quantity supplied if the market supply of an industry is given by p=2qs+4 and the market demand curve is Qd= 28-1/4p

Expert's answer

"Q_s=\\frac{p-4}2,"

"Q_d=\\frac{112-p}4,"

"p=40,"

"Q_s=Q_d=18."

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