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Question 9 4 pts Suppose the demand for gourmet personal pan pizzas is given by the following equation: Qd = 9-2P where Qd is
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Answer #1

Qd = 9 - 2P (demand function)

Qs = 2 + 2P (supply function)

At equilibrium point, Qd = Qs

9 - 2P = 2 + 2P

9 - 2 = 2P + 2P

7 = 4P

P = 7 / 4

P = 1.75

The equilibrium market price of gourment personal pan pizzas is 1.75.

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