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If demand equals 13500-500Psupply equals 3000 plus 200P what is the equilibrium price?

Anonymous

∙ 15y ago

Updated: 9/15/2023

Set this out as an equation:-

13500 - 500P = 3000 + 200P.

Add 500P to both sides:-

13500 = 3000 + 700P

Subtract 3000 from both sides:-

10500 = 700P

Divide both sides by 700:-

P = 10500/700 = 105/7 = 15.

Therefore the equilibrium price is 15.

Wiki User

∙ 15y ago

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Q: If demand equals 13500-500Psupply equals 3000 plus 200P what is the equilibrium price?

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