Illustrate what is the equilibrium price for computers in, Ask an Expert

Economics

Suppose the market demand and market supply for computers are given by the following functions:
Qd = 5000 - 3P and Qs = 1000 + P.

[Qd = Quantity demanded, Qs = Quantity supplied and P = price]

a) Illustrate what is the equilibrium price for computers in the market? How many units of computers will be sold at this price?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9224152

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