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Homework answers / question archive / Suppose market demand and supply are given by Qd = 300 - 4P and Qs = -50 + 3P

Suppose market demand and supply are given by Qd = 300 - 4P and Qs = -50 + 3P

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Suppose market demand and supply are given by Qd = 300 - 4P and Qs = -50 + 3P.

The equilibrium quantity is:

A. 100.

B. 80.

C. 115.

D. 120.

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The equilibrium quantity is A.100

At the equilibrium point, quantity demanded will equal quantity supplied. So we can set those equations equal to each other and solve for P:

300 - 4P = -50 + 3P

350 = 7P

50 = P

Then use P = 50 to solve for Q:

Q = -50 + 3 (50)

Q = 100