(Advanced analysis)Answer the question on the basis of the following information.The demand for commodity X is represented by the equation P = 100 - 2Q and supply by the equation P = 10 + 4Q. Refer to the given information.If demand changed from P = 100 - 2Q to P = 130 - Q,the new equilibrium quantity is:

Question

Quizplus · Accepted Answer

To find the new equilibrium quantity, we need to set the new demand equation equal to the supply equation:

130 - Q = 10 + 4Q

Solving for Q, we get:

5Q = 120

Q = 24

So the new equilibrium quantity is 24. Therefore, the answer is C.

(Advanced Analysis)Answer the Question on the Basis of the Following