Question

In a competitive market for a specific financial commodity, the daily Demand and Supply functions are given as follows:  ·        Demand Function: Qd = 1,200 - 4P ·        Supply Function: Qs = -200+3P Where P is the price in ₹ and Q is the quantity in units. Calculate the Equilibrium Price (Pe) and the Equilibrium Quantity (Qe) for this market. 

A Pe = Rs.200; Qe = 400 units
B Pe = Rs.100; Qe = 200 units
C Pe = Rs.140; Qe = 640 units
D Pe = Rs.400; Qe = 200 units
E Pe = Rs.200; Qe = 100 units
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