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Economics
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QS    =  3P
QD  =  400−P

What is the equilibrium price and quantity?

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Anne Gillian Duero
Anne Gillian DueroLv10
30 Oct 2020

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Related questions

QD = Quantity Demanded QS = Quantity Supplied P = Price

1. If QD = 390 – 2P AND QS = -60 + 3P, find the equilibrium price and quantity.

2. If price is equal to $100, is there a shortage or a surplus? Please explain your answer.

3. Find the Consumer Surplus and the Producer Surplus at equilibrium.

4. Calculate the Total Surplus. Is it at its maximum?

5. If the price is equal to $87, what happens to the Consumer Surplus and the Producer Surplus?

Suppose that demand is given by the equation:

Qd=180-3P

But a tax of $4 is placed on producers, altering supply to the equation:

Qs= P-T-20=P-24

1) What would be the equilibrium price?

2) what is the equilibrium quantity?

Assume the market for Florida oranges is in equilibrium.


Demand is represented by Qd = 60 - 2P

Supply is represented by Qs = 10 + 3P


where the quantity is in thousands of pounds.


If a hurricane strikes Florida, and destroys 20 thousand pounds of oranges, what will the new equilibrium price and quantity be?

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