The market supply and demand functions for a product traded on a perfectly competitive market are given below:
$$Q D = 36 - P$$ $$Q S = 4 + 3 P$$ Calculate the equilibrium price and quantity.

Question

The market supply and demand functions for a product traded on a perfectly competitive market are given below:
 $$Q D = 36 - P$$ $$Q S = 4 + 3 P$$ Calculate the equilibrium price and quantity.

Quizplus · Accepted Answer

The Answer of The market supply and demand functions for a product traded on a perfectly competitive market are given below:
 $$Q D = 36 - P$$ $$Q S = 4 + 3 P$$ Calculate the equilibrium price and quantity.

The Market Supply and Demand Functions for a Product Traded QD=36−PQ D = 36 - PQD=36−P

The Market Supply and Demand Functions for a Product Traded $Q D = 36 - P$