The demand and supply curves for T-shirts are given by the following equations, where P is the price and Q is the quantity. Demand: Q = 65000 – 50P Supply: Q – 5000 = 250P Find the equilibrium price and quantity.
The demand and supply curves for T-shirts are given by the following equations, where P is the price and Q is the quantity. Demand: Q = 65000 – 50P Supply: Q – 5000 = 250P Find the equilibrium price and quantity.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 1WNG
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The demand and supply
Demand: Q = 65000 – 50P Supply: Q – 5000 = 250P
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