Find mathematically and graphically the equilibrium price


You are given the following Functions:

                   Qd= 40-2P

                   Qs= 20 +3P

Find the following:

1- Find mathematically and graphically the Equilibrium price and Quantity?

2- If the price is 10 Riyal, what kind of surplus we will have and how much is it?

3- If the equilibrium price increased by one Riyal, what will be the quantity demanded?

Request for Solution File

Ask an Expert for Answer!!
Business Economics: Find mathematically and graphically the equilibrium price
Reference No:- TGS01134176

Expected delivery within 24 Hours