Consider the following demand and supply curves: $Q ^ { \mathrm { d } } = 100 - 2 \mathrm { P }$, and $Q ^ { s } = 1 / 2 P$, calculate the equilibrium $P$ and $Q$ for this initial situation and assuming the demand curve changes to $Q ^ { d } = 100$ - P. Which of the following is correct?
A) The initial equilibrium is $P = 40 , Q = 20$ and the demand curve shifts left.
B) The initial equilibrium is $P = 40 , Q = 20$ and the new equilibrium is $P = 36 , Q = 28$.
C) The initial equilibrium is $P = 40 , Q = 20$ and the new equilibrium is $P = 662 / 3$ and $Q = 331 / 3$.
D) The initial equilibrium is $P = 40 , Q = 20$ and the demand curve shifts right.

Question

Quizplus · Accepted Answer

The Answer of Consider the following demand and supply curves: $Q ^ { \mathrm { d } } = 100 - 2 \mathrm { P }$, and $Q ^ { s } = 1 / 2 P$, calculate the equilibrium $P$ and $Q$ for this initial situation and assuming the demand curve changes to $Q ^ { d } = 100$ - P. Which of the following is correct?
A) The initial equilibrium is $P = 40 , Q = 20$ and the demand curve shifts left.
B) The initial equilibrium is $P = 40 , Q = 20$ and the new equilibrium is $P = 36 , Q = 28$.
C) The initial equilibrium is $P = 40 , Q = 20$ and the new equilibrium is $P = 662 / 3$ and $Q = 331 / 3$.
D) The initial equilibrium is $P = 40 , Q = 20$ and the demand curve shifts right.

Consider the Following Demand and Supply Curves Qd=100−2PQ ^ { \mathrm { d } } = 100 - 2 \mathrm { P }Qd=100−2P

Consider the Following Demand and Supply Curves $Q ^ { \mathrm { d } } = 100 - 2 \mathrm { P }$