Question

 If the market demand is given by Q=250-50p and supply Q=25p+25 then what is equilibrium price in market

A 5 Correct Answer Incorrect Answer
B 3 Correct Answer Incorrect Answer
C 25 Correct Answer Incorrect Answer
D 50 Correct Answer Incorrect Answer

Solution

At equilibrium,

250-50p = 25p+25

Solving the equation, p= 3

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