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    Computation of Market Equilibrium

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    Given the demand and supply functions below,
    Qd=500-2p
    Qs=-100+2P
    Where Qd is the quantity demanded, Qs is the quantity supplied, P is the Price.

    A- Solve for market equilibrium mathematically.

    B- Describe verbally, the effects on equilibrium quantity and equilibrium price of:
    1. Shifts in supply and demand functions to the right.
    2. Shifts in supply and demand functions to the left.

    © BrainMass Inc. brainmass.com October 10, 2019, 12:27 am ad1c9bdddf
    https://brainmass.com/economics/demand-supply/computation-market-equilibrium-292677

    Solution Summary

    The solution computes the market equilibrium.

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