The supply curve for televisions is given by QS=−20+4p where QS represents the quantity of televisions supplied and P is the price of televisions. The market demand for televisions is given by QD=400−10p where QD is the demand for televisions. Find the equilibrium price and quantity of televisions. Describe what will occur if price falls fellow equilibrium price calculated above. How will this situation will be corrected

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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The supply curve for televisions is given by QS=−20+4p where QS represents the quantity of televisions supplied and P is the price of televisions. The market demand for televisions is given by QD=400−10p where QD is the demand for televisions. Find the equilibrium price and quantity of televisions.

Describe what will occur if price falls fellow equilibrium price calculated above. How will this situation will be corrected?

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