Use the following demand and supply curves to answer the question below:
Demand: Price = 51 minus 2 q subscript d plus.5 I minus 1.5 P subscript a.
Supply: Price equals 1 plus 3 q subscript s plus.1 P subscript s.
Where I is income Pa is the price of ammo and Ps is the price of steel.

Given this information find the equilibrium price when income is 50, the price of ammo is 5, and the price of steel is 10.

Question

02-08-2024
Business

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Use the following demand and supply curves to answer the question below:
Demand: Price = 51 minus 2 q subscript d plus.5 I minus 1.5 P subscript a.
Supply: Price equals 1 plus 3 q subscript s plus.1 P subscript s.
Where I is income Pa is the price of ammo and Ps is the price of steel.

Given this information find the equilibrium price when income is 50, the price of ammo is 5, and the price of steel is 10.

Sagot :

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