Respuesta :

Answer:

Equilibrium price = $5

Equilibrium quantity  = 30 units

Explanation:

Given:

Quantity demanded = Qd = 80 - 10P

Quantity supplied = Qs = -70 + 20P

Find:

Equilibrium price and quantity

Computation:

Equilibrium price and quantity

Qd = QS

So,

80 - 10P = -70 + 20P

150 = 30P

Equilibrium price = $5

Qd = 80 - 10P

Qd = 80 - 10(5)

Equilibrium quantity  = 80 - 50

Equilibrium quantity  = 30 units