At a unit price of 16,000 the demand of a product is 300 units and at a price of 48000 the demand is 100 units.at a unit price of 30000 the supply is 550 units and at a unit price of 50000 the supply is 650 units.determine the equilibrium price and quantity

At a unit price of 16,000 the demand of a product is 300 units and at a price of 48000 the demand is 100 units.at a unit price of 30000 the supply is 550 units and at a unit price of 50000 the supply is 650 units.determine the equilibrium price and quantity

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section3.7: A Market Supply And Demand Analysis

Problem 1GE

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Question

At a unit price of 16,000 the demand of a product is 300 units and at a price of 48000
the demand is 100 units.at a unit price of 30000 the supply is 550 units and at a unit
price of 50000 the supply is 650 units.determine the equilibrium price and quantity

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