Question
How do I solve the equilibrium price and equilibrium quantity in this equation? P= 500 -0,05QD P= 50 + 0,025QS The answer is that Pe
How do I solve the equilibrium price and equilibrium quantity in this equation?
P= 500 -0,05QD
P= 50 + 0,025QS
The answer is that Pe (or equilibrium price) = 200 and Qe = 6000. But i have no clue how they got to that conclusion.
Also
What happens with Pe and Qe if the production increases by $10
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The Economics of Public Issues
Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North
19th edition
134018974, 134018973, 9780134020532 , 978-0134018973
