Given market demand Qd = 50 - P, and market supply P = Qs + 5
A) Find the market equilibrium price and quantity?
B) What would be the state of the market if market price was fixed at Birr 25 per unit?
C) Calculate and interpret price elasticity of demand at the equilibrium point.
Answers
Answered by
8
Answer:
A) P=27.5 Q=22.5 B) There is excess demand in the market.
Answered by
6
Answer:
Explanation:
PLZ MARK AS BRAINLIEST
ANSWER IS P=27.5 Q=22.5 B) There is excess demand in the market.
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