The demand for televisions is given by Qd=60- 60P+1, where P is the price and I in income. On the other hand, the supply of televisions is given by Qs=100P-2Ps, where Ps is the price of screens. Assume that I=10 and Ps=5. What are the equilibrium levels of P and Q in the television market, respectively? O2 and 190 O 0.25 and 15 5 and 100 O 0.5 and 40

The demand for televisions is given by Qd=60- 60P+1, where P is the price and I in income. On the other hand, the supply of televisions is given by Qs=100P-2Ps, where Ps is the price of screens. Assume that I=10 and Ps=5. What are the equilibrium levels of P and Q in the television market, respectively? O2 and 190 O 0.25 and 15 5 and 100 O 0.5 and 40

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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