 Contact

For Enquiry

10:00 AM to 7:00 PM IST all days.

Business Inquiry (West / East / South)

OR

or

Thanks, You will receive a call shortly.
Customer Support

You are very important to us

022-62211530

Mon to Sat - 10 AM to 7 PM

# Suppose the value of demand and supply curve of a commodity X is given by the following two equation simultaneously:            Qd=200-10p            Qs=50+15pa)       Find the equilibrium price and equilibrium quantity of commodity Xb)      Suppose that the price of a factor inputs used in producing the commodity has changed ,resulting in the new supply curve given by the equation                     Qs=100+15p       Analyse the new equilibrium price and new equilibrium quantity as against the original equilibrium price and equilibrium quantity

Asked by athul32130 21st February 2020, 12:18 PM
Equlibrium quantity and Equilibrium price is determined where Quantity Demanded = Quantity Supplied.
It means,
Qd = 200-10p = 50+15p
25p= 150
P= 6

Qd = 200-10p
= 200-10(6)
=200-60 = 140 units

Qs = 50+15p
= 50 + 15(6)
= 50 +90 = 140 units

Therefore equilibrium price is Rs 6
Equilibrium quanity is 140 units

Answered by Expert 23rd February 2020, 12:46 PM
• 1
• 2
• 3
• 4
• 5
• 6
• 7
• 8
• 9
• 10

You have rated this answer /10

### Free related questions

30th September 2018, 7:15 PM
4th February 2019, 9:18 AM
RELATED STUDY RESOURCES : 