The supply curve for some good is Qs = -10 + P. The demand curve for thesame good is given by Qp = 70-3P. What are the coordinates of equilibriumin this market?Select one:a. P 15, Q = 22O b. P = 20, Q = 10O c. P 38, Q = 15O d. P = 25, Q = 11ageNext pagenit 5Jump to...HW Unit 5 DUE March 10 ►aged in as Ashli-Amari Bent (Log out)1-2021/SPRING/DAYon summarymohile annacBoSearch or type URL

Setting QD = QS, 70 - 3P = - 10 + P 4P = 80 P = 20 Q = - 10 + 20 = 10

The supply curve for some good is Qs = -10 + P. The demand curve for the same good is given by QD = 70 - 3P. What are the coordinates of equilibrium %3D in this market? Select one: O a. P 15, Q = 22 O b. P 20, Q = 10 c. P 38, Q = 15 O d. P = 25, Q = 11

The supply curve for some good is Qs = -10 + P. The demand curve for the same good is given by QD = 70 - 3P. What are the coordinates of equilibrium %3D in this market? Select one: O a. P 15, Q = 22 O b. P 20, Q = 10 c. P 38, Q = 15 O d. P = 25, Q = 11

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The supply curve for some good is Qs = -10 + P. The demand curve for the
same good is given by Qp = 70-3P. What are the coordinates of equilibrium
in this market?
Select one:
a. P 15, Q = 22
O b. P = 20, Q = 10
O c. P 38, Q = 15
O d. P = 25, Q = 11
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