Managerial Economics

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Can someone please help me solve this equation: Qs=1,050 and Qd=2000-2.5P. Solve for the equilibrium price 'P'

• Managerial Economics -

2000-2.5P=1050
2000-1050=2.5P
950/2.5=P
P=380

• Managerial Economics -

Simplifying
1050 = 2000 + -2.5(P)

Solving
1050 = 2000 + -2.5P

Solving for variable 'P'.

Move all terms containing P to the left, all other terms to the right.

Add '2.5P' to each side of the equation.
1050 + 2.5P = 2000 + -2.5P + 2.5P

Combine like terms: -2.5P + 2.5P = 0.0
1050 + 2.5P = 2000 + 0.0
1050 + 2.5P = 2000

Add '-1050' to each side of the equation.
1050 + -1050 + 2.5P = 2000 + -1050

Combine like terms: 1050 + -1050 = 0
0 + 2.5P = 2000 + -1050
2.5P = 2000 + -1050

Combine like terms: 2000 + -1050 = 950
2.5P = 950

Divide each side by '2.5'.
P = 380

Simplifying
P = 380

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