gymnast5464
25.07.2020 •
Business
The demand curve is Qd = 1,600 – 50P and the supply curve is Qs = 1,200 + 150P. Calculate the equilibrium quantity. Group of answer choices
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Ответ:
Equilibrium quantity is 1500
Explanation:
The equilibrium quantity is achieved at a point where the quantity demanded equals quantity supplied.
Qd=Qs
Qd=1,600 – 50P
Qs== 1,200 + 150P
1,600 – 50P=1,200 + 150P
We need to collect like terms
1600-1200=150P+50P
400=200P
P=400/200
P=2
We need substitute 2 for P in any of Qd or Qs
Qs=1200+(150*2)=1500
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Concise writing means using the fewest words possible to convey an idea clearly. There's a reason why writing concisely is recommended so often—it's excellent advice.
Explanation:
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