Question

Qd=75-3P AND Qs=-40+12P what is the equilibrium price and quantity?

Answer 1

P=20-2Qd. Supply is represented by equation P=-5+3Qd. Where Qd and Qs are quantity ... At this quantity the price of both the supply and demand functions will be equal 

Answer 2

Demand and supply in a market are described by the equations. Qd = 66-3P. Qs = -4+ ... Qs = 6P where P, Qd and Qs denote price, quantity demanded and quantity ... 120- 8P =-6+4P.