Question

if demand function is Qd=150+10p and supply function is Qs=300-2p, find the equilibrium price.​

Answer 1

Answer:

$qd = qs$

150+10p=300-2p

10p+2p=300-150

Step-by-step explanation:

12p=150

P=150÷12

P=12.5

The equilibrium price is 12.5 or 13