Question
The following equations represent the supply and demand for watches in a particular market: Q_{d=100-P} Qd =100 P Q_s=P-20 Qs = P 20 1)The equilibrium
The following equations represent the supply and demand for watches in a particular market:
Q_{d=100-P}Qd=100P
Q_s=P-20Qs=P20
1)The equilibrium price in this market is $?
2) The equilibrium quantity in this market is?
3) If the price of watches was $80 in this market, then competition among either buyers or sellers would push the price
either be up or down towards equilibrium?
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
8th Canadian Edition
134646355, 9780134842615 , 978-0134646350
