Question

Find q* and p*? (Supply and demand)

Answer 1

\[Q _{d}= 20, 500-250p\]
\[Q_{s} = 5000+100p\]

Answer 2

I don't really know how to begin solving for this equation. How do i factor in the 20?

Answer 3

Um, these are two different curves in one variable. Perhaps they want the intersection point?

Answer 4

Well, lines, actually... not curves.

Answer 5

And I do not know what you mean by factor in the 20. 20,500 Twenty thousand five hundred. 20500.

Answer 6

Nevermind, I already figured it out - but thanks for the help nonetheless

Answer 7

kk. np.