Purchase Solution
Equilibrium
Not what you're looking for?
The market demand curve for a perfectly competitive market is QD = 12 - 2P. The market supply curve is QS = 3 + P. When will the market be in equilibrium?
Purchase this Solution
Solution Summary
Equilibrium is determined.
Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.