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The demand and supply for a particular commodity are given by the following two equations: 

Demand: P = 75 – 2Qd 
and 
Supply: P = -15 + 4Qs 

where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price. 

Using the equilibrium condition Qs = Qd, determine equilibrium price and equilibrium quantity. 

Equilibrium price: $ 

Equilibrium quantity: units

 Jun 2, 2017
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75 – 2Qd  = -15 + 4Qs 

90 = 6Q

Q = 15

therefore, price is 75-30 = 45 or -15+ 60 = 45

 Jun 2, 2017
edited by Guest  Jun 2, 2017

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