refer to a market in which quantity demanded is given by and quantity supplied by
-In this market,equilibrium price is given by:
A)
B)
C)

Question

refer to a market in which quantity demanded is given by  and quantity supplied by 
-In this market,equilibrium price is given by:​
A)​ 
B)​ 
C)​

Quizplus · Accepted Answer

Equilibrium occurs at the intersection of the demand and supply curves, where quantity demanded and quantity supplied are equal. Therefore, to find the equilibrium price, we need to set the demand function equal to the supply function: 
11ea69cd_9b4f_ed45_b0c5_dff228068ddc_TB5166_11_TB5166_11_TB5166_11 = 11ea69cd_9b50_1456_b0c5_1919276bab84_TB5166_11_TB5166_11_TB5166_11

Solving for P, we get:
P = 11ea69cd_9b50_1458_b0c5_e5fe9dd7130e_TB5166_11
Therefore, the equilibrium price is option B.

Refer to a Market in Which Quantity Demanded Is Given