Question

qD=85-P;qS=70+2p. the equilibrium price here is
(a) 5 (b)2
(c) 4 (d) none of these
​

Answer 1

Answer:

the equilibrium point is when supply of the commodity is equals to the demand of the commodity hence Qd=Qs

85-P=70+2P

3P=15

P=5 option (a)