Unformatted text preview: A. Algebraically determine the market equilibrium price/output combination. B. Use a graph to confirm your answer. Answer: The equilibrium price is 25. The equilibrium quality would be the quantity supplied/demanded at the given price. You should substitute 25 for value P at each equation....
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- Spring '09
- Supply And Demand, CERAMIC FLOOR TILES, perfectly competitive service, equilibrium price/output combination, Stacey Springer