Answer to Question #85114 in Microeconomics for Ayanda Lubisi

Question #85114
Consider the following demand and supply functions: Demand: Qd = 300 – 15P.
Supply: Qs = –150 + 60P. What is the equilibrium price and output?
1. P = R2 and Q = 540.
2. P = R10 and Q = 150.
3. P = R6 and Q = 210.
4. P = R3.33 and Q = 200.
1
Expert's answer
2019-02-13T14:28:22-0500
Dear Ayanda Lubisi, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS