Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose the demand equation for televisions is Qd = 900 - P + 0.1I , and the supply equation is Qs = 100 + 0.5

Suppose the demand equation for televisions isQd = 900 - P + 0.1I, and the supply equation isQs = 100 + 0.5 P, wherePis the market price, andIis the income. When the income is $1000, The equilibrium quantity is ______.

  • A.600
  • B.300
  • C.400
  • D.100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Time Series For Financial Applications

Authors: Massimo Guidolin, Manuela Pedio

1st Edition

0128134100, 9780128134108

More Books

Students also viewed these Economics questions

Question

How is the education level required for a position established?

Answered: 1 week ago

Question

Why is a job analysis important?

Answered: 1 week ago