Find the equilibrium price and quantity for the supply in demand and equations. d(p)= 14,400-5p s(p)= 1,500+2p

asked 2021-02-04
Find the equilibrium price and quantity for the supply in demand and equations.
d(p)= 14,400-5p
s(p)= 1,500+2p

Answers (1)

Step 1
Consider the given equations:
d(p)= 14,400-5p
s(p)= 1,500+2p
Step 2
For equilibrium demand equals supply, therefore,
Step 3
Quantity for supply is determined as follows:

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