Suppose demand for a good is Q_D= 100 - P and supply is Q_S = -20 + P.What is the equilibrium quantity?

Name: Suppose demand for a good is Q D = 100 - P and supply is Q S = -20 + P.What is the equilibrium quantity?
Brand: Quizplus
Rating: 4.9 (43 reviews)

Question

Quizplus · Accepted Answer

To find the equilibrium quantity, set Q_D equal to Q_S: 100 - P = -20 + P. Solving for P gives P = 60. Substitute P = 60 back into either the demand or supply equation to find the equilibrium quantity: Q = 100 - 60 = 40.

Suppose Demand for a Good Is QD= 100 - P

Suppose Demand for a Good Is Q_D= 100 - P