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A Good's Demand Curve Is QD = 25 - P,and

Question 44

Essay

A good's Demand Curve is QD = 25 - P,and its Supply Curve is QS = 10 + 2P.
a.When P = $20,what is the difference,if any,between QD and QS?
b.When P = $3,what is the difference,if any,between QD and QS?
c.What are the equilibrium values of P and Q?

Correct Answer:

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a.QD = 5 and QS = 50 b...

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