Question

Given the demand and supply equations, Qdx=200-5Px and Qsx=-250+10Px. the equilibrium price is. *

Answer 1

Answer:

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Answer 2

The price equilibrium is at Rs. 30.

Given:

$Demand \: equation = 200 - 5Px$

$Supply \: equation = - 250 + 10Px$

To find:

The price equilibrium.

Solution:

The price equilibrium of a product is the price of the product at which the consumer and the producer agree.

$Price \: Equilibrium => (Supply \: equation = Demand \: equation )$

$200 - 5Px = - 250 + 10Px$

$200 + 250 = 10Px + 5Px$

$450 = 15Px$

$Px = 30$

Therefore, the equilibrium price is Rs. 30