ecomonics
posted by elizabeth .
I am trying to understand the math part of supply and demand . I am not getting it,I really need help! The question is: The demand and supply functions for sweatshirts are as follows:
DEMAND Supply
Quanity Quanity
demanded(per period) supplied(/peri
price__ price
1015,000 $1022,000
915,500 919,000
816,000 816,000
716,500 713,000
617,000 610,000
517,500 57,000
418,000 44,000
318.500 31,000
219,000 2 0
the equation for the demand and supply functions above are as followers
Qd=20,000500p
Qs=8,000+3000P
solve for the equilbrim price and quanity,
I donot know what to do with it.
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