What will be the quantity demanded at a price of $40
Question # 00230764
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Updated on: 03/24/2016 09:29 AM Due on: 04/23/2016
You are given the following supply and demand equations.
QD = 100 – 2P
QS = 10 + P
a. What will be the quantity demanded at a price of $40?
b. What will be the quantity supplied at the price of $30?
c. What is the equilibrium price and equilibrium quantity?
You must show the calculations.
QD = 100 – 2P
QS = 10 + P
a. What will be the quantity demanded at a price of $40?
b. What will be the quantity supplied at the price of $30?
c. What is the equilibrium price and equilibrium quantity?
You must show the calculations.
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Solution: What will be the quantity demanded at a price of $40