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Law Incorporation [45]
3 years ago
9

John's T-shirt business uses the demand function P= -Q + 38 and the supply

Business
2 answers:
Oksanka [162]3 years ago
7 0

Answer:

22,16

Explanation:

I read the comments

GaryK [48]3 years ago
3 0

The correct option is - B (16, 22)

Explanation:

<u>Given: </u>

Demand function = P = -Q +38

Supply function = P = Q – 6

<u>In order to find the equilibrium, the demand function must be equal to the supply function. </u>

Thus, putting the demand function equal to the supply function , we get,

Q – 6 = -Q + 38

Solving the above equations, Q = 22

Now, putting the value of Q in demand function in order to find out the value of P,

P = -22 + 38

P = 16

Thus, Option B is correct (16, 22)

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