Homework answers / question archive / Suppose that demand and supply of apples are described by the following equations: P=100-3Q (demand) P=20+Q (supply)

Suppose that demand and supply of apples are described by the following equations: P=100-3Q (demand) P=20+Q (supply)

Marketing

Share With

Suppose that demand and supply of apples are described by the following equations: P=100-3Q (demand) P=20+Q (supply). Draw both of these curves (or use a spreadsheet, if you want). What is the equilibrium price of apple,s in this market? How many apples will be sold? Show all work.