Mathematics 49 Online
OpenStudy (anonymous):

demand curve: Qd= 500-2P; supply curve: Qs=200+6p, determine equilibrium price and quantity

OpenStudy (anonymous):

equilibrium is reached when supply = demand sp 500-2P = 200+6P find P substitute P in one of the quantities.

OpenStudy (anonymous):

Does it matter what I substitute P with?

OpenStudy (anonymous):

nope, since both quantities are equal for that value of P

OpenStudy (anonymous):

K, thank you very much!

OpenStudy (anonymous):

you are welcome

myininaya (myininaya):

myininaya (myininaya):

myininaya (myininaya):

or it was common sense?

OpenStudy (anonymous):

nope. I was going with normal definition of equilibrium. I assume I made a huge blunder and gave the poor fellow a wrong answer?

OpenStudy (anonymous):

common sense.

myininaya (myininaya):

i don't know lol

OpenStudy (anonymous):

lol, toni would be very confused now

OpenStudy (anonymous):

Ahem! I AM very confused now... : (

OpenStudy (anonymous):

lol, don't worry about it. I am 99% sure I gave you the correct answer. don't mind myininaya, he likes to stir things up :)

OpenStudy (anonymous):

Phew! Ok, thanks! :)

OpenStudy (anonymous):

Good night all! Thanks for everything!

OpenStudy (anonymous):

you are welcome. good night

myininaya (myininaya):

lol im a her

OpenStudy (anonymous):

she* ;)

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