Question

suppose the market demand function for good X is given Q x = 30-2p and the supply function for good X is give by Q x = -6+p.
a. calculate equilibrium price.
b. calculate equilibrium quantity.

Answer 1

Answer:

Option C

The market demand curve is given below:

Qd=10−2PQd=10−2P

The market supply curve is given below:

QS=4P−2QS=4P−2

The...