economics
posted by chris on .
Market research has revealed the following information about the market for chocolate bars. The demand schedule can be represented by the equation QD=1,600300P, where QD is the quantity demanded and P is the price. The supply schedule can be represented by the equation QS=1,400+700P where Qs is the quantity supplied. Calculate the equilibrium price and quantity in the market for chocolate bars.

p=.2
Q=1540