Practice: The supply and demand curves for a product are as follows:

Q_{d} = 10560 − 80P

P = 1/40 Q_{S} + 6

What is the equilibrium price and quantity of the product?

Subjects

Sections | |||
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Introduction to Supply and Demand | 10 mins | 0 completed | Learn |

The Basics of Demand | 7 mins | 0 completed | Learn |

Individual Demand and Market Demand | 6 mins | 0 completed | Learn |

Shifting Demand | 45 mins | 0 completed | Learn |

The Basics of Supply | 4 mins | 0 completed | Learn |

Individual Supply and Market Supply | 6 mins | 0 completed | Learn |

Shifting Supply | 29 mins | 0 completed | Learn |

Big Daddy Shift Summary | 8 mins | 0 completed | Learn |

Supply and Demand Together: Equilibrium, Shortage, and Surplus | 11 mins | 0 completed | Learn |

Supply and Demand Together: One-sided Shifts | 28 mins | 0 completed | Learn |

Supply and Demand Together: Both Shift | 35 mins | 0 completed | Learn |

Supply and Demand: Quantitative Analysis | 40 mins | 0 completed | Learn |

Practice: The supply and demand curves for a product are as follows:

Q_{d} = 10560 − 80P

P = 1/40 Q_{S} + 6

What is the equilibrium price and quantity of the product?

0 of 8 completed

Concept #1: Equation of a Demand Curve

Concept #2: Isolating Variables in the Demand Equation

Concept #3: Equation of a Supply Curve

Concept #4: Isolating Variables in the Supply Equation

Concept #5: Finding Equilibrium Using Algebra

Example #1: Finding Equilibrium Using Algebra

Practice #1: Finding Equilibrium Using Algebra

Concept #6: Finding Equilibrium with Equations and a Graph

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