3 years ago

Plz help I’m stuck on this question

Mathematics

1 answer:

Leona [35]3 years ago

4 0

Answer:

the answer is C

Step-by-step explanation:

i hope it will help you

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If you have a demand function of Qd=48-9P and a supply function of Qs=-12+6P,

jenyasd209 [6]

Answer:

The equilibrium quantity is 26.4

Step-by-step explanation:

Given

$Q_d = 48 - 9P$

$Q_s = 12 + 6P$

Required

Determine the equilibrium quantity

First, we need to determine the equilibrium by equating Qd to Qs

i.e.

$Q_d = Q_s$

This gives:

$48 -9P = 12 + 6P$

Collect Like Terms

$-9P - 6P = 12 - 48$

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Solve for P

$P = \frac{-36}{-15}$

$P =2.4$

This is the equilibrium price.

Substitute 2.4 for P in any of the quantity functions to give the equilibrium quantity:

$Q_d = 48 - 9P$

$Q_d = 48 - 9 * 2.4$

$Q_d = 26.4$

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