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Q2. Sub Mart Inc. needs to decide the optimal price to charge and the optimal quantity to supply in the market. The demand function of

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Q2. Sub Mart Inc. needs to decide the optimal price to charge and the optimal quantity to supply in the market. The demand function of the product is given as QD=40-2P, while the supply function of the product is given as QS=2P where P is the price, QD is quantity demanded, and QS is quantity supplied. Solve the following demand function is given as: QD=40-2P. Calculate the equilibrium price and quantity. (5Marks)

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