Suppose that in the market for good X there are 4000 consumers, with an individual demand curve given by: ๐ ๐ท = 30 โ 0.75๐. There are also 100 producers, each of which has a supply curve given by: ๐ ๐ = โ300 + 20๐ Page 5 of 12 2.1.1. Determine the equilibrium price and quantity in this Marketplace. Represent graphically.
106
likes