Use the following information to answer the following questions.
Market for flat-screen TVs:
Demand: Q d = 2,600 - 5P
Supply: Q s = -1,000 + 10P
-What would be the equilibrium quantity for flat-screen TVs?
A) 240
B) 140
C) 24
D) 1,400
E) 1,600

Question

Quizplus · Accepted Answer

To find the equilibrium quantity, we need to set the demand and supply equations equal to each other and solve for P: 2,600 - 5P = -1,000 + 10P 3,600 = 15P P = 240 Now, we can substitute P back into either the demand or supply equation to find the equilibrium quantity: Q_d = 2,600 - 5(240) = 1,400 Therefore, the equilibrium quantity for flat-screen TVs is 1,400.

Use the Following Information to Answer the Following Questions