New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    Find the equilibrium quantity and price if the demand

    and supply equations are as follows: Demand: Qd = 12 - P Supply: Qs = - 3 + 4 P
    A Q = 3, P = 9 Correct Answer Incorrect Answer
    B Q = 9, P = 3 Correct Answer Incorrect Answer
    C Q = 6, P = 3 Correct Answer Incorrect Answer
    D Q = 15, P = 9 Correct Answer Incorrect Answer
    E Q = 15, P = 6 Correct Answer Incorrect Answer

    Solution

    Since At equilibrium, Qd = Qs Therefore, 12 – P = -3 + 4 P i.e., 15 = 5 P or, P = 3 and Q = 9 Snapshot from study notes of the ixamBee SEBI course covering this type of numerical

    Practice Next