Demand curve: P = 30 – Q Supply curve: P = 2Q
Calculate the equilibrium quantity and price.
At equilibrium,
Demand = Supply
30 - Q = 2Q
3Q = 30
Q = 30 / 3 = 10
P = 2Q = 2 * 10 = $20
Thus, thev equilibrium quantity is 10 and price is $20.
Demand curve: P = 30 – Q Supply curve: P = 2Q Calculate the equilibrium quantity...
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