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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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Continue Learning about Math & Arithmetic

Why price an independable variable and demand is dependent variable?

Because demand creates the price, and not the price dictates the demand.

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The equilibrium price is the unit cost, which is the same as the total cost divided by the number of units produced (output).

The price elasticity of demand is the ratio of the?

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Cost price divided by selling price then multiply by 100 Eg. Cost price £5 divided by selling price £20 equals £0.25, multiplied by 100 equals 25%

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