Purchase Solution

Computation of Market Equilibrium

Not what you're looking for?

Ask Custom Question

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.

Purchase this Solution

Solution Summary

The solution computes the market equilibrium.

Purchase this Solution


Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.