View the step-by-step solution to:

Question

This question was created from CHAPTER03-9 https://www.coursehero.com/file/11561478/CHAPTER03-9/

basis of the following information. The demand
for commodity X is represented by the equation
P = 10 - 0.2Q and supply by the equation P = 2
+ 0.2Q.
Refer to the given information. The equilibrium
price for X is:
A. \$2
B. \$4.
C. \$6.
D. \$7.

Ans: C) \$6 Equilibrium when Demand for X = Supply for X. after... View the full answer

A market is in equilibrium when demand for commodity x
equal to quantity supplied isof X
To find equibrain price and quantity equate
demand agn and supply egn.
given . P = 10 - 0.2Q
Tomand egn.
P =...

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

• -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents