Question

find the equilibrium price and equibrium quantity of Qd=180-25P and Qs = -40 +30p

Answer 1

Answer:

The equilibrium price is 4

Step-by-step explanation:

At equilibrium, the quantity demanded of a product is equal to the quantity supplied.

The quantity demanded is given as :

Qd=180-25p

The quantity supplied is given as:

Qs = -40 +30p

Equating both equations gives:

$180 - 25p = - 40 + 30p$

We group similar terms to get:

$30p + 25p = 180 + 40$

This implies that:

$55p = 220$

Divide both sides by 55:

$p = \frac{220}{55} = 4$

There the equilibrium price is 4