Question
Considering that: Q(s) = 4p - 20 （d） =-5p + 15 Vhat is the Pe (Equilibrium price)? Please consider two decimal numbers.
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Answer to a math question Considering that: Q(s) = 4p - 20 （d） =-5p + 15 Vhat is the Pe (Equilibrium price)? Please consider two decimal numbers.
Esmeralda
4.795 Answers
To find the equilibrium price (Pe), we need to set the quantity supplied equal to the quantity demanded and solve for the price. In equilibrium, Q(s) = Q(d).
Given:
Q(s) = 4p - 20
Q(d) = -5p + 15
Set Q(s) equal to Q(d):
4p - 20 = -5p + 15
Now, solve for p (price):
4p + 5p = 15 + 20
9p = 35
p = 35 / 9
Now, let's calculate the value:
p ≈ 3.89 (rounded to two decimal places)
So, the equilibrium price (Pe) is approximately $3.89.
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