Everyone's favorite: algebra!

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

Qd = 10560 − 80P
P = 1 40Qs + 6

What is the equilibrium price and quantity of the product? 

Concept #6: Finding Equilibrium with Equations and a Graph