An economics instructor told his class that the demand equation for a certain product is p = 400 -
and its supply equation is p = 20q + 100.If the 400 -
is set equal to the 20q + 100,then the positive solution to the resulting equation gives the "equilibrium quantity." The instructor asked his class to find this quantity.What answer should the class give?

Question

An economics instructor told his class that the demand equation for a certain product is p = 400 -  
and its supply equation is p = 20q + 100.If the 400 -  
is set equal to the 20q + 100,then the positive solution to the resulting equation gives the "equilibrium quantity." The instructor asked his class to find this quantity.What answer should the class give?

Quizplus · Accepted Answer

The Answer of An economics instructor told his class that the demand equation for a certain product is p = 400 -  
and its supply equation is p = 20q + 100.If the 400 -  
is set equal to the 20q + 100,then the positive solution to the resulting equation gives the "equilibrium quantity." The instructor asked his class to find this quantity.What answer should the class give?

An Economics Instructor Told His Class That the Demand Equation