Question
Suppose the demand for organic bananas is given by the following equation: Qd = 12 - 2P where Qd is the quantity demanded per week
Suppose the demand for organic bananas is given by the following equation:
Qd = 12 - 2P
where Qd is the quantity demanded per week of organic bananas, and P is the price of organic bananas.
Suppose further that the supply of organic bananas is:
Qs = 2 + 2P
where Qs is the quantity supplied per week of organic bananas.
What is the equilibrium marketquantityof organic bananas? (Round your answer to 2 decimal places.)
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