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06.03.2020 •
Business
Suppose we have two supply and demand functions as follows D(p)S(p)=20−2p,=−10+2p, where p is the price per unit. What is the supply at the equilibrium point?
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Ответ:
Qs=5
Explanation:
Demand function:Qd=20-2P
Supply function:Qs=-10+2p
Based on the market equilibrium condition,we can state:-
Qd=Qs
20-2P=-10+2p
-2P-2P=-10-20
-4P=-30
4P=30
P=30 /4
P=7.5
Hence,the equilibrium price in the market is 7.5
Now,plugging the value of P or equilibrium price into the demand function,we obtain:-
Qd=20-2(7.5)
Qd=20-15
Qd=5
The equilibrium quantity in the market is 5
Now,plugging the value of P or equilibrium price into the supply function,we obtain:
Qs=-10+2P
Qs=-10+2(7.5)
Qs=-10+15
Qs=5
Ответ:
Great
Explanation:
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