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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Esmeralda

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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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