Saturday

April 19, 2014

April 19, 2014

Posted by **elizabeth** on Wednesday, November 5, 2008 at 12:06pm.

DEMAND Supply

Quanity Quanity

demanded(per period) supplied(/peri

price__ price

10-----15,000 $10----------22,000

9------15,500 9---------19,000

8------16,000 8---------16,000

7-------16,500 7---------13,000

6--------17,000 6--------10,000

5--------17,500 5---------7,000

4--------18,000 4---------4,000

3--------18.500 3--------1,000

2--------19,000 2--------- 0

the equation for the demand and supply functions above are as followers

Qd=20,000-500p

Qs=8,000+3000P

solve for the equilbrim price and quanity,

I donot know what to do with it.

- ecomonics -
**economyst**, Wednesday, November 5, 2008 at 2:51pmFind where supply=demand -- from your table at price=8 Qd=16000 and Qs=16000. tada.

from you equation set Qd=Qs or 20000-500P = 8000+3000P. Solve for P (use algebra) (hint: I get P=8)

tada again, thats all there is to it.

- ecomonics -
**Storm**, Sunday, December 21, 2008 at 11:54amP=8, Q=16000

**Related Questions**

Mircoeconomics: Elasticity - Please help! I have a mid-term test in a couple of ...

economics - in the simple economics of a competitive market price increases ...

supply and demand - I'm looking for help on the third part of this question. I'...

math - i also need help with this one: Supply and Demand let the supply and ...

Econ - How does the aggregate goods and services market differ from the regular...

economics - in the simple economics of a competitive market price increase under...

Math help - Fimd the market price and demand for the pair of supply and demand ...

economics - If a country such as Europe sells their saved dollars as a result in...

Microeconomics - I am having a hard time answering these questions. I just need ...

Calculus - The supply and demand functions for a certain commodity are given by...