If Qdx=100-10 Px & Qsx=-40 + 30 Px what is equilibriums price in the market?
Answers
Answered by
0
Answer:
equilibrium price is determined at a point at which, the demand for and supply of a commodity are equal. Following equation can help us to understand how equilibrium price is determined. 100 – 10Px = - 40 + 30 Px 100 + 40 = 30Px + 10 Px 140 = 40 Px Px = 140/40 ⸫ Price of x-good = 3.50 rupees.
Step-by-step explanation:
Similar questions